Monte Financial Group LLC lessened its holdings in shares of Chevron Co. (NYSE:CVX – Free Report) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,815 shares of the oil and gas company’s stock after selling 301 shares during the quarter. Chevron comprises 3.3% of Monte Financial Group LLC’s portfolio, making the stock its 2nd biggest holding. Monte Financial Group LLC’s holdings in Chevron were worth $6,170,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Everett Harris & Co. CA increased its stake in Chevron by 0.9% in the 1st quarter. Everett Harris & Co. CA now owns 531,599 shares of the oil and gas company’s stock worth $86,736,000 after acquiring an additional 4,984 shares during the last quarter. Steph & Co. increased its stake in Chevron by 6.3% in the 1st quarter. Steph & Co. now owns 4,943 shares of the oil and gas company’s stock worth $806,000 after acquiring an additional 295 shares during the last quarter. Mayflower Financial Advisors LLC increased its stake in Chevron by 1.6% in the 4th quarter. Mayflower Financial Advisors LLC now owns 92,113 shares of the oil and gas company’s stock worth $16,533,000 after acquiring an additional 1,453 shares during the last quarter. M&R Capital Management Inc. increased its stake in Chevron by 9.8% in the 4th quarter. M&R Capital Management Inc. now owns 7,580 shares of the oil and gas company’s stock worth $1,361,000 after acquiring an additional 674 shares during the last quarter. Finally, Albion Financial Group UT increased its stake in Chevron by 0.6% in the 4th quarter. Albion Financial Group UT now owns 17,553 shares of the oil and gas company’s stock worth $3,151,000 after acquiring an additional 105 shares during the last quarter. Institutional investors own 69.65% of the company’s stock.
Analyst Ratings Changes
A number of research firms have issued reports on CVX. StockNews.com began coverage on Chevron in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Piper Sandler cut their target price on Chevron from $196.00 to $188.00 in a research report on Tuesday, June 13th. UBS Group initiated coverage on Chevron in a research report on Wednesday, April 19th. They set a “buy” rating and a $212.00 target price on the stock. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $195.00 to $200.00 in a research report on Thursday, April 13th. Finally, Raymond James cut their target price on Chevron from $212.00 to $208.00 and set an “outperform” rating on the stock in a research report on Friday, April 14th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average price target of $191.63.
Chevron Price Performance
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 business had revenue of $50.79 billion during the quarter, compared to analysts’ expectations of $49.49 billion. Chevron had a return on equity of 23.15% and a net margin of 14.74%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.36 EPS. On average, analysts predict that Chevron Co. will post 13.83 EPS for the current fiscal year.
Chevron Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were given a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 3.83%. The ex-dividend date was Thursday, May 18th. Chevron’s payout ratio is 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.
See Also
- Five stocks we like better than Chevron
- Delta Takes Flight: Double-Digit Upside In Sight
- Generac Powers Up as Summer Temperatures Rise
- 3 Reasons Why Rivian Can Continue To Surge Higher
- Despite Breaking Higher, Analysts Remain Cautious HP Inc.
- PepsiCo Can Soar To New Highs In The 2nd Half
Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.
