Tiaa Fsb raised its holdings in Chevron Co. (NYSE:CVX – Free Report) by 0.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 222,697 shares of the oil and gas company’s stock after acquiring an additional 1,368 shares during the quarter. Tiaa Fsb’s holdings in Chevron were worth $36,335,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVX. Steph & Co. raised its holdings in Chevron by 6.3% in the first quarter. Steph & Co. now owns 4,943 shares of the oil and gas company’s stock worth $806,000 after purchasing an additional 295 shares during the period. Mayflower Financial Advisors LLC raised its holdings in Chevron by 1.6% in the fourth quarter. Mayflower Financial Advisors LLC now owns 92,113 shares of the oil and gas company’s stock worth $16,533,000 after purchasing an additional 1,453 shares during the period. M&R Capital Management Inc. raised its holdings in Chevron by 9.8% in the fourth quarter. M&R Capital Management Inc. now owns 7,580 shares of the oil and gas company’s stock worth $1,361,000 after purchasing an additional 674 shares during the period. Albion Financial Group UT raised its holdings in Chevron by 0.6% in the fourth quarter. Albion Financial Group UT now owns 17,553 shares of the oil and gas company’s stock worth $3,151,000 after purchasing an additional 105 shares during the period. Finally, Miracle Mile Advisors LLC raised its holdings in Chevron by 5.1% in the fourth quarter. Miracle Mile Advisors LLC now owns 19,920 shares of the oil and gas company’s stock worth $3,575,000 after purchasing an additional 965 shares during the period. 69.65% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research firms have weighed in on CVX. Mizuho cut their target price on shares of Chevron from $206.00 to $196.00 in a report on Friday, May 19th. Piper Sandler dropped their price objective on shares of Chevron from $196.00 to $188.00 in a report on Tuesday, June 13th. JPMorgan Chase & Co. upgraded shares of Chevron from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $161.00 to $170.00 in a report on Wednesday, May 31st. Raymond James dropped their price objective on shares of Chevron from $212.00 to $208.00 and set an “outperform” rating on the stock in a report on Friday, April 14th. 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 research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $191.68.
Chevron Stock Performance
Chevron (NYSE:CVX – Free Report) last announced its quarterly earnings data on Friday, April 28th. The oil and gas company reported $3.55 EPS for the quarter, beating analysts’ consensus estimates of $3.41 by $0.14. Chevron had a net margin of 14.74% and a return on equity of 23.15%. The company had revenue of $50.79 billion during the quarter, compared to the consensus estimate of $49.49 billion. During the same quarter last year, the firm posted $3.36 EPS. The company’s quarterly revenue was down 6.6% on a year-over-year basis. As a group, equities analysts forecast that Chevron Co. will post 13.83 earnings per share for the current year.
Chevron Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were given 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 was Thursday, May 18th. Chevron’s dividend payout ratio (DPR) is presently 32.61%.
About Chevron
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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