Hengehold Capital Management LLC reduced its position in Chevron Co. (NYSE:CVX – Free Report) by 2.2% 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 31,504 shares of the oil and gas company’s stock after selling 722 shares during the quarter. Hengehold Capital Management LLC’s holdings in Chevron were worth $5,140,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Moneta Group Investment Advisors LLC increased its stake in shares of Chevron by 104,997.3% during 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 buying an additional 24,467,521 shares during the period. Norges Bank purchased a new position in Chevron in the fourth quarter valued at approximately $3,058,235,000. Price T Rowe Associates Inc. MD increased its stake in Chevron by 79.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,896,009 shares of the oil and gas company’s stock valued at $2,494,194,000 after purchasing an additional 6,133,227 shares during the last quarter. Morgan Stanley increased its stake 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 valued at $5,906,309,000 after purchasing an additional 3,711,923 shares during the last quarter. Finally, Edmp Inc. increased its stake in Chevron by 17,439.1% in the fourth quarter. Edmp Inc. now owns 2,949,893 shares of the oil and gas company’s stock valued at $16,435,000 after purchasing an additional 2,933,074 shares during the last quarter. 69.65% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
CVX has been the topic of several recent analyst reports. UBS Group initiated coverage on shares of Chevron in a research note on Wednesday, April 19th. They issued a “buy” rating and a $212.00 price target on the stock. Truist Financial lowered their target price on shares of Chevron from $193.00 to $190.00 in a research report on Monday, May 1st. Piper Sandler lowered their target price on shares of Chevron from $196.00 to $188.00 in a research report on Tuesday, June 13th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $195.00 to $200.00 in a research report on Thursday, April 13th. Finally, Mizuho lowered their target price on shares of Chevron from $206.00 to $196.00 in a research report on Friday, May 19th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $191.68.
Chevron Trading Down 0.1 %
Chevron (NYSE:CVX – Free Report) last announced its quarterly earnings results on Friday, April 28th. The oil and gas company reported $3.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.41 by $0.14. Chevron had a return on equity of 23.15% and a net margin of 14.74%. The business had revenue of $50.79 billion during the quarter, compared to analysts’ expectations of $49.49 billion. During the same quarter last year, the business posted $3.36 earnings per share. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, analysts forecast that Chevron Co. will post 13.83 earnings per share for the current fiscal year.
Chevron Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Friday, May 19th were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date was Thursday, May 18th. Chevron’s dividend payout ratio is presently 32.61%.
Chevron Company 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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