Worth Financial Advisory Group LLC trimmed its stake in shares of Chevron Co. (NYSE:CVX – Free Report) by 6.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,580 shares of the oil and gas company’s stock after selling 192 shares during the period. Worth Financial Advisory Group LLC’s holdings in Chevron were worth $421,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. KG&L Capital Management LLC increased its stake in Chevron by 36.8% in 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 buying an additional 2,624 shares during the last quarter. Mraz Amerine & Associates Inc. increased its stake in Chevron by 0.8% in 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 buying an additional 87 shares during the last quarter. Capital Advisory Group Advisory Services LLC increased its stake in Chevron by 1.4% in 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 buying an additional 171 shares during the last quarter. Field & Main Bank increased its stake in Chevron by 0.8% in 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 buying an additional 128 shares during the last quarter. Finally, Eastern Bank grew its position in shares of Chevron by 209.7% in 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. 69.65% of the stock is currently owned by institutional investors and hedge funds.
Chevron Price Performance
CVX stock opened at $157.21 on Wednesday. The company has a fifty day moving average price of $156.92 and a 200-day moving average price of $164.83. The company has a market capitalization of $297.86 billion, a P/E ratio of 8.49, a PEG ratio of 0.80 and a beta of 1.16. Chevron Co. has a 52-week low of $132.54 and a 52-week high of $189.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.16 and a current ratio of 1.43.
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 dividend of $1.51 per share. This represents a $6.04 annualized dividend 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%.
Analyst Ratings Changes
A number of research analysts have recently commented on CVX shares. Morgan Stanley lifted their price objective on shares of Chevron from $192.00 to $198.00 in a research report on Tuesday, May 23rd. Truist Financial decreased their price objective on shares of Chevron from $193.00 to $190.00 in a research report on Monday, May 1st. Mizuho decreased their price objective on shares of Chevron from $206.00 to $196.00 in a research report on Friday, May 19th. StockNews.com assumed coverage on shares of Chevron in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. raised shares of Chevron from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $161.00 to $170.00 in a report on Wednesday, May 31st. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $191.68.
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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