Schrum Private Wealth Management LLC grew its position in Chevron Co. (NYSE:CVX – Free Report) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,550 shares of the oil and gas company’s stock after purchasing an additional 194 shares during the quarter. Chevron comprises approximately 1.4% of Schrum Private Wealth Management LLC’s investment portfolio, making the stock its 18th biggest holding. Schrum Private Wealth Management LLC’s holdings in Chevron were worth $1,232,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of CVX. Steph & Co. grew its holdings in shares of Chevron by 6.3% during the first quarter. Steph & Co. now owns 4,943 shares of the oil and gas company’s stock valued at $806,000 after buying an additional 295 shares during the last quarter. Mayflower Financial Advisors LLC lifted its position in Chevron by 1.6% during the fourth quarter. Mayflower Financial Advisors LLC now owns 92,113 shares of the oil and gas company’s stock valued at $16,533,000 after purchasing an additional 1,453 shares during the period. M&R Capital Management Inc. lifted its position in Chevron by 9.8% during the fourth quarter. M&R Capital Management Inc. now owns 7,580 shares of the oil and gas company’s stock valued at $1,361,000 after purchasing an additional 674 shares during the period. Albion Financial Group UT lifted its position in Chevron by 0.6% during the fourth quarter. Albion Financial Group UT now owns 17,553 shares of the oil and gas company’s stock valued at $3,151,000 after purchasing an additional 105 shares during the period. Finally, Miracle Mile Advisors LLC lifted its position in Chevron by 5.1% during the fourth quarter. Miracle Mile Advisors LLC now owns 19,920 shares of the oil and gas company’s stock valued at $3,575,000 after purchasing an additional 965 shares during the period. 69.65% of the stock is owned by hedge funds and other institutional investors.
Chevron Trading Down 0.1 %
Shares of Chevron stock opened at $157.21 on Wednesday. Chevron Co. has a 52-week low of $132.54 and a 52-week high of $189.68. The company has a quick ratio of 1.16, a current ratio of 1.43 and a debt-to-equity ratio of 0.13. The company’s 50-day simple moving average is $156.92 and its 200-day simple moving average is $164.83. The firm has a market cap of $297.86 billion, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of 0.80 and a beta of 1.16.
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 is presently 32.61%.
Analysts Set New Price Targets
A number of brokerages have weighed in on CVX. 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 report on Tuesday, April 4th. Royal Bank of Canada raised shares of Chevron from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $165.00 to $180.00 in a research note on Thursday, June 1st. UBS Group assumed coverage on shares of Chevron in a research note on Wednesday, April 19th. They set a “buy” rating and a $212.00 target price for the company. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $195.00 to $200.00 in a research note on Thursday, April 13th. Finally, Piper Sandler dropped their price target on shares of Chevron from $196.00 to $188.00 in a research note on Tuesday, June 13th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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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