McAdam LLC acquired a new position in shares of Chevron Co. (NYSE:CVX – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,775 shares of the oil and gas company’s stock, valued at approximately $453,000.
Several other large investors have also recently bought and sold shares of CVX. Moneta Group Investment Advisors LLC increased its holdings in Chevron by 104,997.3% in the fourth 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 in the last quarter. Norges Bank purchased a new stake in shares of Chevron during the 4th quarter worth approximately $3,058,235,000. Price T Rowe Associates Inc. MD grew 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 period. Morgan Stanley increased its stake in Chevron by 12.7% in the 4th 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 in the last quarter. Finally, Edmp Inc. raised its holdings in Chevron by 17,439.1% during the fourth quarter. Edmp Inc. now owns 2,949,893 shares of the oil and gas company’s stock worth $16,435,000 after purchasing 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 Up 0.7 %
Shares of CVX opened at $155.28 on Tuesday. Chevron Co. has a twelve month low of $132.54 and a twelve month high of $189.68. The firm has a market capitalization of $294.20 billion, a P/E ratio of 8.38, a price-to-earnings-growth ratio of 0.78 and a beta of 1.16. 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 stock’s fifty day simple moving average is $155.92 and its 200 day simple moving average is $164.34.
Chevron Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Shareholders 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 3.89%. Chevron’s dividend payout ratio is currently 32.61%.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on CVX. JPMorgan Chase & Co. raised Chevron from an “underweight” rating to a “neutral” rating and upped their target price for the company from $161.00 to $170.00 in a report on Wednesday, May 31st. StockNews.com initiated coverage on shares of Chevron in a report on Thursday, May 18th. They set a “hold” rating for the company. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $195.00 to $200.00 in a report on Thursday, April 13th. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and set a $189.00 price objective for the company in a research note on Tuesday, May 23rd. Finally, Truist Financial reduced their target price on Chevron from $193.00 to $190.00 in a research note on Monday, May 1st. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $191.68.
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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