Chevron Co. (NYSE:CVX) is Tufton Capital Management’s 7th Largest Position

Posted by Defense World Staff on Jul 3rd, 2023

Tufton Capital Management trimmed its position in shares of Chevron Co. (NYSE:CVX – Free Report) by 0.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,647 shares of the oil and gas company’s stock after selling 292 shares during the period. Chevron comprises 2.6% of Tufton Capital Management’s investment portfolio, making the stock its 7th largest position. Tufton Capital Management’s holdings in Chevron were worth $11,853,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CVX. Nordea Investment Management AB boosted its holdings in Chevron by 0.5% during the 1st quarter. Nordea Investment Management AB now owns 405,591 shares of the oil and gas company’s stock valued at $65,848,000 after acquiring an additional 1,863 shares during the period. TIAA FSB boosted its position in Chevron by 0.6% during the 1st quarter. TIAA FSB now owns 222,697 shares of the oil and gas company’s stock valued at $36,335,000 after buying an additional 1,368 shares during the period. Mcdonald Partners LLC grew its stake in shares of Chevron by 4.5% in the first quarter. Mcdonald Partners LLC now owns 36,604 shares of the oil and gas company’s stock worth $5,972,000 after purchasing an additional 1,564 shares during the last quarter. FCF Advisors LLC bought a new stake in shares of Chevron in the first quarter worth about $1,824,000. Finally, Ballast Inc. grew its stake in shares of Chevron by 8.4% in the first quarter. Ballast Inc. now owns 1,805 shares of the oil and gas company’s stock worth $295,000 after purchasing an additional 140 shares during the last quarter. Institutional investors own 69.65% of the company’s stock.

Chevron Trading Up 0.7 %

Shares of CVX stock opened at $157.35 on Monday. Chevron Co. has a 1 year low of $132.54 and a 1 year high of $189.68. The firm has a fifty day moving average price of $157.44 and a 200-day moving average price of $165.01. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.43 and a quick ratio of 1.16. The company has a market cap of $298.12 billion, a price-to-earnings ratio of 8.50, a PEG ratio of 0.80 and a beta of 1.16.

Chevron (NYSE:CVX – Free Report) last issued its quarterly earnings data on Friday, April 28th. The oil and gas company reported $3.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.41 by $0.14. The firm had revenue of $50.79 billion during the quarter, compared to the consensus estimate of $49.49 billion. Chevron had a net margin of 14.74% and a return on equity of 23.15%. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.36 EPS. As a group, equities analysts predict that Chevron Co. will post 13.83 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend was Thursday, May 18th. Chevron’s dividend payout ratio (DPR) is 32.61%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CVX shares. Piper Sandler cut their target price on Chevron from $196.00 to $188.00 in a research note on Tuesday, June 13th. Royal Bank of Canada raised Chevron from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $165.00 to $180.00 in a research note on Thursday, June 1st. StockNews.com initiated coverage on shares of Chevron in a report on Thursday, May 18th. They issued a “hold” rating for the company. Morgan Stanley raised their price objective on shares of Chevron from $192.00 to $198.00 in a report on Tuesday, May 23rd. Finally, Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $195.00 to $200.00 in a report on Thursday, April 13th. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $191.68.

Chevron Profile

(Free Report)

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.

Chevron Co. (NYSE:CVX) is Tufton Capital Management’s 7th Largest Position

Chevron Trading Up 0.7 %

Chevron Announces Dividend

Wall Street Analysts Forecast Growth

Chevron Profile

Further Reading

You might be interested in: