Retirement Planning Co of New England Inc. increased its stake in Chevron Co. (NYSE:CVX – Free Report) by 3.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,455 shares of the oil and gas company’s stock after purchasing an additional 285 shares during the period. Chevron accounts for 0.8% of Retirement Planning Co of New England Inc.’s portfolio, making the stock its 29th largest position. Retirement Planning Co of New England Inc.’s holdings in Chevron were worth $1,380,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also made changes to their positions in the stock. AJ Wealth Strategies LLC grew its holdings in shares of 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 acquiring an additional 56 shares during the last quarter. Howard Capital Management Group LLC grew its holdings in shares of 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 acquiring an additional 57 shares during the last quarter. Aries Wealth Management grew its holdings in shares of Chevron by 0.5% in the 4th quarter. Aries Wealth Management now owns 10,973 shares of the oil and gas company’s stock worth $1,970,000 after acquiring an additional 59 shares during the last quarter. Mendel Capital Management LLC boosted its position in shares of Chevron by 1.3% in the fourth quarter. Mendel Capital Management LLC now owns 4,663 shares of the oil and gas company’s stock worth $837,000 after buying an additional 59 shares during the period. Finally, MV Capital Management Inc. boosted its position in shares of Chevron by 3.1% in the fourth quarter. MV Capital Management Inc. now owns 1,962 shares of the oil and gas company’s stock worth $352,000 after buying an additional 59 shares during the period. Institutional investors own 69.65% of the company’s stock.
Chevron Trading Up 0.9 %
Chevron stock opened at $154.22 on Friday. Chevron Co. has a 52 week low of $132.54 and a 52 week high of $189.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.16 and a current ratio of 1.43. The firm has a market capitalization of $292.19 billion, a PE ratio of 8.33, a PEG ratio of 0.78 and a beta of 1.16. The business’s 50-day simple moving average is $156.16 and its 200-day simple moving average is $164.53.
Chevron Announces Dividend
The company 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 3.92%. Chevron’s dividend payout ratio is 32.61%.
Analysts Set New Price Targets
Several brokerages have recently commented on CVX. Mizuho decreased their target price on Chevron from $206.00 to $196.00 in a research report on Friday, May 19th. Raymond James decreased their target price on Chevron from $212.00 to $208.00 and set an “outperform” rating for the company in a research report on Friday, April 14th. Piper Sandler reduced their price objective on Chevron from $196.00 to $188.00 in a research report on Tuesday, June 13th. UBS Group assumed coverage on Chevron in a research report on Wednesday, April 19th. They set a “buy” rating and a $212.00 price objective for the company. Finally, Morgan Stanley lifted their price objective on Chevron from $192.00 to $198.00 in a research report on Tuesday, May 23rd. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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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