Arthur M. Cohen & Associates LLC raised its position in Chevron Co. (NYSE:CVX – Free Report) by 30.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,945 shares of the oil and gas company’s stock after acquiring an additional 450 shares during the quarter. Arthur M. Cohen & Associates LLC’s holdings in Chevron were worth $317,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in CVX. AJ Wealth Strategies LLC increased its holdings in 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 purchasing an additional 56 shares in the last quarter. Howard Capital Management Group LLC increased its stake 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 valued at $322,000 after acquiring an additional 57 shares in the last quarter. Aries Wealth Management increased its stake 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 valued at $1,970,000 after acquiring an additional 59 shares in the last quarter. Mendel Capital Management LLC lifted its position in shares of Chevron by 1.3% during the 4th quarter. Mendel Capital Management LLC now owns 4,663 shares of the oil and gas company’s stock valued at $837,000 after acquiring an additional 59 shares during the period. Finally, MV Capital Management Inc. boosted its stake in Chevron by 3.1% during 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 in the last quarter. Hedge funds and other institutional investors own 69.65% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently weighed in on CVX. Mizuho dropped their price objective on shares of Chevron from $206.00 to $196.00 in a report on Friday, May 19th. JPMorgan Chase & Co. raised Chevron from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $161.00 to $170.00 in a research note on Wednesday, May 31st. BNP Paribas raised Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 target price on the stock in a research report on Tuesday, April 4th. 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 report on Tuesday, May 23rd. Finally, Truist Financial dropped their price objective on shares of Chevron from $193.00 to $190.00 in a research note on Monday, May 1st. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Chevron 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 posted its quarterly earnings results on Friday, April 28th. The oil and gas company reported $3.55 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.14. Chevron had a net margin of 14.74% and a return on equity of 23.15%. The company had revenue of $50.79 billion for the quarter, compared to analysts’ expectations of $49.49 billion. During the same quarter in the previous year, the firm posted $3.36 EPS. Chevron’s revenue was down 6.6% on a year-over-year basis. As a group, equities analysts forecast that Chevron Co. will post 13.83 earnings per share for the current year.
Chevron Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Friday, May 19th were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend was Thursday, May 18th. Chevron’s dividend payout ratio (DPR) is currently 32.61%.
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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