Pioneer Trust Bank N A OR increased its stake in Chevron Co. (NYSE:CVX – Free Report) by 0.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 60,245 shares of the oil and gas company’s stock after buying an additional 430 shares during the period. Chevron accounts for about 2.9% of Pioneer Trust Bank N A OR’s holdings, making the stock its 12th largest holding. Pioneer Trust Bank N A OR’s holdings in Chevron were worth $9,830,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisor L.P boosted its stake in Chevron by 85.1% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock worth $25,908,000 after purchasing an additional 73,141 shares in the last quarter. Axiom Financial Strategies LLC grew its holdings in shares of Chevron by 25.2% during the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock valued at $1,155,000 after buying an additional 1,476 shares during the last quarter. GQG Partners LLC increased its position in shares of Chevron by 4.7% during the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock valued at $6,598,000 after acquiring an additional 1,813 shares in the last quarter. Lumature Wealth Partners LLC raised its holdings in Chevron by 43.5% in the 1st quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after acquiring an additional 1,770 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in Chevron by 13.8% in the 1st quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock valued at $336,830,000 after acquiring an additional 250,840 shares in the last quarter. Hedge funds and other institutional investors own 69.65% of the company’s stock.
Chevron Price Performance
Shares of NYSE:CVX opened at $155.28 on Tuesday. The company has a market capitalization of $294.20 billion, a P/E ratio of 8.38, a P/E/G ratio of 0.78 and a beta of 1.16. Chevron Co. has a 1-year low of $132.54 and a 1-year high of $189.68. The firm’s 50 day simple moving average is $155.92 and its two-hundred day simple moving average is $164.34. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.43 and a quick ratio of 1.16.
Chevron Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Friday, May 19th were given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 3.89%. The ex-dividend date was Thursday, May 18th. Chevron’s dividend payout ratio is currently 32.61%.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on CVX. Royal Bank of Canada upgraded Chevron from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $165.00 to $180.00 in a research note on Thursday, June 1st. JPMorgan Chase & Co. raised Chevron from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $161.00 to $170.00 in a research report on Wednesday, May 31st. Raymond James reduced their price target on shares of Chevron from $212.00 to $208.00 and set an “outperform” rating for the company in a research note on Friday, April 14th. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $189.00 price objective on the stock in a research report on Tuesday, May 23rd. Finally, UBS Group began coverage on shares of Chevron in a research note on Wednesday, April 19th. They set a “buy” rating and a $212.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently 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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