Boston Trust Walden Corp boosted its stake in Chevron Co. (NYSE:CVX – Free Report) by 2.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 156,383 shares of the oil and gas company’s stock after purchasing an additional 4,465 shares during the quarter. Boston Trust Walden Corp’s holdings in Chevron were worth $25,515,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Morgan Stanley increased its holdings in shares of Chevron by 12.7% in the fourth quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after acquiring an additional 3,711,923 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its position in shares of Chevron by 104,997.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after buying an additional 24,467,521 shares during the period. Norges Bank acquired a new position in shares of Chevron during the fourth quarter worth about $3,058,235,000. Charles Schwab Investment Management Inc. boosted its position in shares of Chevron by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 14,697,160 shares of the oil and gas company’s stock worth $2,393,138,000 after buying an additional 189,762 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Chevron by 2.6% during the fourth quarter. Franklin Resources Inc. now owns 14,164,343 shares of the oil and gas company’s stock worth $2,542,358,000 after buying an additional 354,084 shares during the period. Institutional investors own 69.65% of the company’s stock.
Wall Street Analyst Weigh In
CVX has been the subject of several recent research reports. StockNews.com initiated coverage on Chevron in a research report on Thursday, May 18th. They set a “hold” rating for the company. JPMorgan Chase & Co. raised Chevron from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $161.00 to $170.00 in a research report on Wednesday, May 31st. UBS Group initiated coverage on Chevron in a research report on Wednesday, April 19th. They issued a “buy” rating and a $212.00 price objective for the company. Raymond James lowered their target price on Chevron from $212.00 to $208.00 and set an “outperform” rating on the stock in a research note on Friday, April 14th. Finally, Mizuho lowered their target price on Chevron from $206.00 to $196.00 in a research note on Friday, May 19th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.68.
Chevron Trading Up 0.7 %
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 for the quarter, topping analysts’ consensus estimates of $3.41 by $0.14. The business had revenue of $50.79 billion for 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%. Chevron’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.36 EPS. As a group, sell-side analysts predict that Chevron Co. will post 13.83 EPS for the current fiscal year.
Chevron Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 12th. Shareholders of record on Friday, May 19th were given a $1.51 dividend. The ex-dividend date was Thursday, May 18th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.84%. Chevron’s dividend payout ratio (DPR) is presently 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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