Stone House Investment Management LLC purchased a new stake in shares of Chevron Co. (NYSE:CVX – Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 843 shares of the oil and gas company’s stock, valued at approximately $138,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Rebalance LLC purchased a new stake in Chevron in the fourth quarter worth about $26,000. Western Pacific Wealth Management LP purchased a new stake in Chevron in the fourth quarter worth about $37,000. Red Tortoise LLC purchased a new stake in Chevron in the fourth quarter worth about $37,000. Worth Asset Management LLC bought a new position in shares of Chevron in the first quarter worth approximately $36,000. Finally, JDM Financial Group LLC bought a new position in shares of Chevron in the fourth quarter worth approximately $42,000. Hedge funds and other institutional investors own 69.65% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. Piper Sandler dropped their target price on shares of Chevron from $196.00 to $188.00 in a research note on Tuesday, June 13th. Scotiabank upgraded shares of 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. Raymond James dropped their target price on shares of Chevron from $212.00 to $208.00 and set an “outperform” rating on the stock in a research note on Friday, April 14th. Truist Financial lowered their price objective on shares of Chevron from $193.00 to $190.00 in a research report on Monday, May 1st. Finally, UBS Group initiated coverage on shares of Chevron in a research report on Wednesday, April 19th. They set a “buy” rating and a $212.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $191.63.
Chevron Stock Down 1.3 %
Chevron (NYSE:CVX – Get Free Report) last issued its earnings results on Friday, April 28th. The oil and gas company reported $3.55 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.14. The company had revenue of $50.79 billion during the quarter, compared to the consensus estimate of $49.49 billion. Chevron had a net margin of 14.74% and a return on equity of 23.15%. Chevron’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.36 EPS. Sell-side analysts expect that Chevron Co. will post 13.83 EPS for the current fiscal year.
Chevron Dividend Announcement
The company also recently announced 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 3.83%. The ex-dividend date was Thursday, May 18th. Chevron’s dividend payout ratio 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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