Eagle Bay Advisors LLC decreased its position in Chevron Co. (NYSE:CVX – Free Report) by 20.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,298 shares of the oil and gas company’s stock after selling 599 shares during the period. Eagle Bay Advisors LLC’s holdings in Chevron were worth $146,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Cantor Fitzgerald Investment Advisor L.P raised 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 valued at $25,908,000 after acquiring an additional 73,141 shares during the period. Axiom Financial Strategies LLC boosted its holdings in Chevron by 25.2% in the 1st quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock valued at $1,155,000 after purchasing an additional 1,476 shares during the period. GQG Partners LLC increased its holdings in shares of Chevron by 4.7% in the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after purchasing an additional 1,813 shares during the period. Lumature Wealth Partners LLC boosted its stake in Chevron by 43.5% during the first quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock valued at $950,000 after buying an additional 1,770 shares during the period. Finally, First Trust Advisors LP grew its position in Chevron by 13.8% during the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after buying an additional 250,840 shares in the last quarter. Institutional investors own 69.65% of the company’s stock.
Chevron Trading Up 0.7 %
NYSE CVX opened at $155.28 on Tuesday. The firm has a market capitalization of $294.20 billion, a PE ratio of 8.38, a P/E/G ratio of 0.78 and a beta of 1.16. The stock’s 50 day moving average is $155.92 and its 200 day moving average is $164.34. Chevron Co. has a twelve month low of $132.54 and a twelve month high of $189.68. The company has a quick ratio of 1.16, a current ratio of 1.43 and a debt-to-equity ratio of 0.13.
Chevron Announces Dividend
The business also recently disclosed 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 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 (DPR) is presently 32.61%.
Analyst Upgrades and Downgrades
CVX has been the subject of a number of research reports. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and set a $189.00 price target for the company in a research note on Tuesday, May 23rd. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $195.00 to $200.00 in a research note on Thursday, April 13th. JPMorgan Chase & Co. upgraded shares of Chevron from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $161.00 to $170.00 in a report on Wednesday, May 31st. StockNews.com began coverage on shares of Chevron in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, UBS Group began coverage on Chevron in a report on Wednesday, April 19th. They issued a “buy” rating and a $212.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.68.
About Chevron
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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