Tectonic Advisors LLC increased its position in shares of Chevron Co. (NYSE:CVX – Free Report) by 37.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,811 shares of the oil and gas company’s stock after buying an additional 1,587 shares during the period. Tectonic Advisors LLC’s holdings in Chevron were worth $948,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the company. AJ Wealth Strategies LLC increased its holdings in Chevron by 1.8% during the fourth quarter. AJ Wealth Strategies LLC now owns 3,092 shares of the oil and gas company’s stock worth $555,000 after buying an additional 56 shares during the last quarter. Howard Capital Management Group LLC increased its holdings in Chevron by 3.3% during the fourth quarter. Howard Capital Management Group LLC now owns 1,792 shares of the oil and gas company’s stock worth $322,000 after buying an additional 57 shares during the last quarter. Aries Wealth Management increased its holdings in shares of Chevron by 0.5% in the fourth quarter. Aries Wealth Management now owns 10,973 shares of the oil and gas company’s stock valued at $1,970,000 after purchasing an additional 59 shares during the last quarter. Mendel Capital Management LLC increased its holdings in shares of Chevron by 1.3% in the fourth quarter. Mendel Capital Management LLC now owns 4,663 shares of the oil and gas company’s stock valued at $837,000 after purchasing an additional 59 shares during the last quarter. Finally, MV Capital Management Inc. increased its holdings in shares of Chevron by 3.1% in the fourth quarter. MV Capital Management Inc. now owns 1,962 shares of the oil and gas company’s stock valued at $352,000 after purchasing an additional 59 shares during the last quarter. 69.65% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on CVX shares. Mizuho upped their price objective on shares of Chevron from $202.00 to $205.00 in a report on Tuesday. Royal Bank of Canada upgraded shares of Chevron from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $165.00 to $180.00 in a report on Thursday, June 1st. Piper Sandler decreased their price objective on shares of Chevron from $196.00 to $188.00 in a report on Tuesday, June 13th. StockNews.com assumed coverage on shares of Chevron in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Citigroup decreased their price target on shares of Chevron from $180.00 to $170.00 in a research note on Tuesday. Eight investment 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.63.
Chevron Stock Down 1.3 %
Chevron (NYSE:CVX – Get Free Report) last posted its 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. The firm had revenue of $50.79 billion during the quarter, compared to analysts’ expectations of $49.49 billion. Chevron had a net margin of 14.74% and a return on equity of 23.15%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.36 earnings per share. As a group, equities research analysts anticipate that Chevron Co. will post 13.83 EPS for the current fiscal year.
Chevron Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were issued a $1.51 dividend. The ex-dividend date of this dividend was Thursday, May 18th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.83%. Chevron’s dividend payout ratio (DPR) is currently 32.61%.
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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