Richwood Investment Advisors LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX – Free Report) by 4.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,613 shares of the oil and gas company’s stock after selling 121 shares during the quarter. Richwood Investment Advisors LLC’s holdings in Chevron were worth $426,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the business. Morgan Stanley grew its holdings in 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 purchasing an additional 3,711,923 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in Chevron by 104,997.3% in 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 purchasing an additional 24,467,521 shares during the last quarter. Norges Bank purchased a new position in Chevron in the fourth quarter worth $3,058,235,000. Charles Schwab Investment Management Inc. grew its holdings in Chevron by 1.3% in 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 purchasing an additional 189,762 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in Chevron by 2.6% in 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 purchasing an additional 354,084 shares during the last quarter. 69.65% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the stock. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and set a $189.00 price target on the stock in a report on Tuesday, May 23rd. UBS Group initiated coverage on shares of Chevron in a research note on Wednesday, April 19th. They set a “buy” rating and a $212.00 price objective for the company. JPMorgan Chase & Co. upgraded shares of Chevron from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $161.00 to $170.00 in a research note on Wednesday, May 31st. BNP Paribas upgraded shares of Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 price objective for the company in a research note on Tuesday, April 4th. Finally, Truist Financial lowered their price objective on shares of Chevron from $193.00 to $190.00 in a research note on Monday, May 1st. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.68.
Chevron Trading Down 0.2 %
Chevron (NYSE:CVX – Free Report) last released its earnings results 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 business had revenue of $50.79 billion during the quarter, compared to analysts’ expectations of $49.49 billion. Chevron had a net margin of 14.74% and a return on equity of 23.15%. The company’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.36 earnings per share. As a group, equities analysts predict that Chevron Co. will post 13.83 earnings per share for the current fiscal year.
Chevron Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were paid a dividend of $1.51 per share. The ex-dividend date of this dividend 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 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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