Princeton Global Asset Management LLC Has $440,000 Position in Chevron Co. (NYSE:CVX)

Princeton Global Asset Management LLC increased its position in Chevron Co. (NYSE:CVX – Free Report) by 244.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,696 shares of the oil and gas company’s stock after buying an additional 1,913 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Chevron were worth $440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Rebalance LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $26,000. Worth Asset Management LLC acquired a new stake in shares of Chevron during the 1st quarter worth approximately $36,000. Red Tortoise LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $37,000. Western Pacific Wealth Management LP acquired a new stake in shares of Chevron during the 4th quarter worth approximately $37,000. Finally, JDM Financial Group LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 69.65% of the company’s stock.

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Chevron Trading Down 2.2 %

Shares of NYSE:CVX opened at $152.87 on Friday. Chevron Co. has a 1 year low of $132.54 and a 1 year high of $189.68. The firm has a market capitalization of $289.63 billion, a price-to-earnings ratio of 8.25, a price-to-earnings-growth ratio of 0.79 and a beta of 1.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.43 and a quick ratio of 1.16. The business’s 50 day moving average price is $156.44 and its 200-day moving average price is $164.69.

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, topping 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 period in the prior year, the business posted $3.36 EPS. The company’s revenue was down 6.6% compared to the same quarter last year. On average, equities research 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. 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 3.95%. The ex-dividend date of this dividend was Thursday, May 18th. Chevron’s payout ratio is presently 32.61%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CVX shares. UBS Group started coverage on shares of Chevron in a research report on Wednesday, April 19th. They set a “buy” rating and a $212.00 price objective for the company. JPMorgan Chase & Co. raised shares of Chevron from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $161.00 to $170.00 in a research report on Wednesday, May 31st. Truist Financial reduced their price target on shares of Chevron from $193.00 to $190.00 in a research report on Monday, May 1st. Morgan Stanley lifted their price objective on shares of Chevron from $192.00 to $198.00 in a report on Tuesday, May 23rd. Finally, HSBC upgraded Chevron from a “hold” rating to a “buy” rating and set a $189.00 target price on the stock in a research note on Tuesday, May 23rd. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $191.68.

Chevron Company Profile

(Free Report)

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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