Gratus Capital LLC decreased its stake in shares of Chevron Co. (NYSE:CVX – Free Report) by 7.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,976 shares of the oil and gas company’s stock after selling 922 shares during the period. Gratus Capital LLC’s holdings in Chevron were worth $1,954,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. KG&L Capital Management LLC lifted its position in Chevron by 36.8% during the 1st quarter. KG&L Capital Management LLC now owns 9,752 shares of the oil and gas company’s stock valued at $1,591,000 after acquiring an additional 2,624 shares during the period. Mraz Amerine & Associates Inc. lifted its position in Chevron by 0.8% during the 1st quarter. Mraz Amerine & Associates Inc. now owns 10,663 shares of the oil and gas company’s stock valued at $1,740,000 after acquiring an additional 87 shares during the period. Capital Advisory Group Advisory Services LLC lifted its position in Chevron by 1.4% during the 1st quarter. Capital Advisory Group Advisory Services LLC now owns 12,539 shares of the oil and gas company’s stock valued at $2,046,000 after acquiring an additional 171 shares during the period. Field & Main Bank lifted its position in Chevron by 0.8% during the 1st quarter. Field & Main Bank now owns 15,959 shares of the oil and gas company’s stock valued at $2,604,000 after acquiring an additional 128 shares during the period. Finally, Eastern Bank lifted its position in Chevron by 209.7% during the 1st quarter. Eastern Bank now owns 109,608 shares of the oil and gas company’s stock valued at $17,884,000 after acquiring an additional 74,214 shares during the period. Institutional investors own 69.65% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on CVX shares. Morgan Stanley lifted their price target on shares of Chevron from $192.00 to $198.00 in a research report on Tuesday, May 23rd. StockNews.com initiated coverage on shares of Chevron in a report on Thursday, May 18th. They issued a “hold” rating for the company. BNP Paribas raised shares of Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 target price for the company in a report on Tuesday, April 4th. Piper Sandler decreased their target price on shares of Chevron from $196.00 to $188.00 in a report on Tuesday, June 13th. Finally, Raymond James decreased their target price on shares of Chevron from $212.00 to $208.00 and set an “outperform” rating for the company in a report on Friday, April 14th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average target price of $191.68.
Chevron Stock Performance
Chevron (NYSE:CVX – Free Report) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $49.49 billion. Chevron had a net margin of 14.74% and a return on equity of 23.15%. The company’s revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.36 earnings per share. On average, research analysts anticipate that Chevron Co. will post 13.83 earnings per share for the current year.
Chevron Announces Dividend
The company 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 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 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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