Edmp Inc. decreased its position in Chevron Co. (NYSE:CVX – Free Report) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,146 shares of the oil and gas company’s stock after selling 289 shares during the quarter. Chevron makes up approximately 2.6% of Edmp Inc.’s portfolio, making the stock its 14th largest position. Edmp Inc.’s holdings in Chevron were worth $2,634,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in CVX. AJ Wealth Strategies LLC increased its holdings in Chevron by 1.8% in the 4th quarter. AJ Wealth Strategies LLC now owns 3,092 shares of the oil and gas company’s stock worth $555,000 after buying an additional 56 shares in the last quarter. Howard Capital Management Group LLC increased its holdings in Chevron by 3.3% in the 4th quarter. Howard Capital Management Group LLC now owns 1,792 shares of the oil and gas company’s stock worth $322,000 after buying an additional 57 shares in the last quarter. Aries Wealth Management grew its stake in shares of Chevron by 0.5% during the 4th quarter. Aries Wealth Management now owns 10,973 shares of the oil and gas company’s stock valued at $1,970,000 after purchasing an additional 59 shares during the period. Mendel Capital Management LLC grew its stake in shares of Chevron by 1.3% during the 4th quarter. Mendel Capital Management LLC now owns 4,663 shares of the oil and gas company’s stock valued at $837,000 after purchasing an additional 59 shares during the period. Finally, MV Capital Management Inc. grew its stake in shares of Chevron by 3.1% during the 4th quarter. MV Capital Management Inc. now owns 1,962 shares of the oil and gas company’s stock valued at $352,000 after purchasing an additional 59 shares during the period. Institutional investors own 69.65% of the company’s stock.
Analyst Upgrades and Downgrades
CVX has been the subject of a number of recent research reports. StockNews.com initiated coverage on Chevron in a research note on Thursday, May 18th. They set a “hold” rating for the company. UBS Group initiated coverage on Chevron in a research note on Wednesday, April 19th. They set a “buy” rating and a $212.00 price target for the company. Truist Financial cut their price target on Chevron from $193.00 to $190.00 in a research note on Monday, May 1st. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and set a $189.00 price target for the company in a research note on Tuesday, May 23rd. Finally, Royal Bank of Canada raised Chevron from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $165.00 to $180.00 in a research report on Thursday, June 1st. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $191.68.
Chevron Stock Down 0.1 %
Chevron (NYSE:CVX – Free Report) last released its quarterly earnings results on Friday, April 28th. The oil and gas company reported $3.55 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.14. Chevron had a return on equity of 23.15% and a net margin of 14.74%. The company had revenue of $50.79 billion for the quarter, compared to analyst estimates of $49.49 billion. During the same quarter in the prior year, the firm posted $3.36 EPS. Chevron’s quarterly revenue was down 6.6% compared to the same quarter last year. As a group, equities analysts expect that Chevron Co. will post 13.83 earnings per share for the current fiscal year.
Chevron Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were paid a $1.51 dividend. 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 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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