Carderock Capital Management Inc. lowered its position in shares of Chevron Co. (NYSE:CVX – Free Report) by 2.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,675 shares of the oil and gas company’s stock after selling 101 shares during the period. Carderock Capital Management Inc.’s holdings in Chevron were worth $763,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Steph & Co. increased its stake in shares of Chevron by 6.3% in the 1st quarter. Steph & Co. now owns 4,943 shares of the oil and gas company’s stock valued at $806,000 after purchasing an additional 295 shares during the last quarter. Mayflower Financial Advisors LLC increased its stake in shares of Chevron by 1.6% in the 4th quarter. Mayflower Financial Advisors LLC now owns 92,113 shares of the oil and gas company’s stock valued at $16,533,000 after purchasing an additional 1,453 shares during the last quarter. M&R Capital Management Inc. increased its stake in shares of Chevron by 9.8% in the 4th quarter. M&R Capital Management Inc. now owns 7,580 shares of the oil and gas company’s stock valued at $1,361,000 after purchasing an additional 674 shares during the last quarter. Albion Financial Group UT increased its stake in shares of Chevron by 0.6% in the 4th quarter. Albion Financial Group UT now owns 17,553 shares of the oil and gas company’s stock valued at $3,151,000 after purchasing an additional 105 shares during the last quarter. Finally, Miracle Mile Advisors LLC increased its stake in shares of Chevron by 5.1% in the 4th quarter. Miracle Mile Advisors LLC now owns 19,920 shares of the oil and gas company’s stock valued at $3,575,000 after purchasing an additional 965 shares during the last quarter. Institutional investors own 69.65% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on CVX. Mizuho decreased their price target on Chevron from $206.00 to $196.00 in a research note on Friday, May 19th. Royal Bank of Canada upgraded Chevron from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $165.00 to $180.00 in a research report on Thursday, June 1st. Morgan Stanley boosted their price objective on Chevron from $192.00 to $198.00 in a research report on Tuesday, May 23rd. BNP Paribas raised Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 target price on the stock in a report on Tuesday, April 4th. Finally, UBS Group started coverage on Chevron in a report on Wednesday, April 19th. They set a “buy” rating and a $212.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $191.68.
Chevron Stock Performance
Chevron (NYSE:CVX – Free Report) last issued its quarterly earnings data on Friday, April 28th. The oil and gas company reported $3.55 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.14. The firm had revenue of $50.79 billion during the quarter, compared to analyst estimates of $49.49 billion. Chevron had a return on equity of 23.15% and a net margin of 14.74%. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.36 EPS. Equities analysts forecast that Chevron Co. will post 13.83 earnings per share for the current fiscal year.
Chevron Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Shareholders of record on Friday, May 19th were issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend was Thursday, May 18th. Chevron’s dividend payout ratio is currently 32.61%.
Chevron Profile
Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.
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