FSM Wealth Advisors LLC raised its stake in shares of Chevron Co. (NYSE:CVX – Free Report) by 18.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 4,310 shares of the oil and gas company’s stock after acquiring an additional 669 shares during the quarter. FSM Wealth Advisors LLC’s holdings in Chevron were worth $703,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. AJ Wealth Strategies LLC raised its stake in shares of Chevron by 1.8% in the fourth 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 raised its stake in shares of Chevron by 3.3% in the fourth 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 raised its stake in shares of Chevron by 0.5% in the fourth 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 raised its stake 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 acquiring an additional 59 shares during the last quarter. Finally, MV Capital Management Inc. raised its stake 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 acquiring an additional 59 shares during the last quarter. Institutional investors own 69.65% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Chevron from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $161.00 to $170.00 in a research note on Wednesday, May 31st. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $195.00 to $200.00 in a research note on Thursday, April 13th. StockNews.com assumed coverage on shares of Chevron in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Morgan Stanley upped their target price on shares of Chevron from $192.00 to $198.00 in a research note on Tuesday, May 23rd. Finally, Piper Sandler reduced their price target on shares of Chevron from $196.00 to $188.00 in a report on Tuesday, June 13th. Nine equities 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.com, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $191.68.
Chevron Stock Performance
Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings results on Friday, April 28th. The oil and gas company reported $3.55 EPS for the quarter, beating analysts’ consensus estimates of $3.41 by $0.14. The firm had revenue of $50.79 billion during the quarter, compared to analysts’ expectations of $49.49 billion. Chevron had a net margin of 14.74% and a return on equity of 23.15%. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.36 earnings per share. As a group, equities analysts predict that Chevron Co. will post 13.83 EPS for the current year.
Chevron Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 12th. Shareholders of record on Friday, May 19th were paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend was Thursday, May 18th. Chevron’s dividend payout ratio is currently 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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