Daymark Wealth Partners LLC grew its position in Chevron Co. (NYSE:CVX – Free Report) by 53.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,412 shares of the oil and gas company’s stock after buying an additional 5,739 shares during the period. Daymark Wealth Partners LLC’s holdings in Chevron were worth $2,678,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in CVX. Moneta Group Investment Advisors LLC grew its stake in shares of Chevron by 104,997.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after buying an additional 24,467,521 shares during the period. Norges Bank purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $3,058,235,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Chevron by 79.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,896,009 shares of the oil and gas company’s stock worth $2,494,194,000 after acquiring an additional 6,133,227 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Chevron by 12.7% in the 4th quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after acquiring an additional 3,711,923 shares during the last quarter. Finally, Edmp Inc. lifted its holdings in shares of Chevron by 17,439.1% in the 4th quarter. Edmp Inc. now owns 2,949,893 shares of the oil and gas company’s stock worth $16,435,000 after acquiring an additional 2,933,074 shares during the last quarter. Hedge funds and other institutional investors own 69.65% of the company’s stock.
Chevron Trading Down 2.2 %
Shares of NYSE:CVX opened at $152.87 on Friday. Chevron Co. has a 52 week low of $132.54 and a 52 week high of $189.68. The company’s 50 day moving average is $156.44 and its two-hundred day moving average is $164.69. The company has a current ratio of 1.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.13. The company has a market cap of $289.63 billion, a PE ratio of 8.25, a P/E/G ratio of 0.79 and a beta of 1.16.
Chevron Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Friday, May 19th were paid a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, May 18th. This represents a $6.04 annualized dividend and a yield of 3.95%. Chevron’s dividend payout ratio is currently 32.61%.
Analysts Set New Price Targets
Several brokerages have recently commented on CVX. Morgan Stanley upped their price objective on shares of Chevron from $192.00 to $198.00 in a report on Tuesday, May 23rd. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $195.00 to $200.00 in a report on Thursday, April 13th. Royal Bank of Canada upgraded shares of Chevron from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $165.00 to $180.00 in a report on Thursday, June 1st. UBS Group began coverage on shares of Chevron in a report on Wednesday, April 19th. They issued a “buy” rating and a $212.00 price objective on the stock. Finally, StockNews.com started coverage on shares of Chevron in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $191.68.
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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