Fruth Investment Management cut its stake in shares of Chevron Co. (NYSE:CVX – Free Report) by 0.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,420 shares of the oil and gas company’s stock after selling 100 shares during the quarter. Chevron accounts for 2.2% of Fruth Investment Management’s portfolio, making the stock its 8th largest holding. Fruth Investment Management’s holdings in Chevron were worth $7,573,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Rebalance LLC acquired a new stake in shares of Chevron in the fourth quarter worth $26,000. Western Pacific Wealth Management LP acquired a new stake in shares of Chevron in the fourth quarter worth $37,000. Red Tortoise LLC acquired a new stake in shares of Chevron in the fourth quarter worth $37,000. Worth Asset Management LLC acquired a new stake in shares of Chevron in the first quarter worth $36,000. Finally, JDM Financial Group LLC acquired a new stake in shares of Chevron in the fourth quarter worth $42,000. 69.65% of the stock is owned by institutional investors.
Chevron Trading Down 1.3 %
Chevron stock opened at $157.50 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.16 and a current ratio of 1.43. The business’s 50-day simple moving average is $155.96 and its 200-day simple moving average is $164.12. The firm has a market capitalization of $298.41 billion, a PE ratio of 8.50, a PEG ratio of 0.81 and a beta of 1.16. Chevron Co. has a 52 week low of $132.54 and a 52 week high of $189.68.
Chevron Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were paid 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 payout ratio is presently 32.61%.
Wall Street Analyst Weigh In
CVX has been the subject of several recent analyst reports. Citigroup decreased their target price on Chevron from $180.00 to $170.00 in a research report on Tuesday. Royal Bank of Canada upgraded Chevron from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $165.00 to $180.00 in a report on Thursday, June 1st. Morgan Stanley increased their price objective on Chevron from $192.00 to $198.00 in a report on Tuesday, May 23rd. Raymond James cut their price objective on Chevron from $212.00 to $208.00 and set an “outperform” rating for the company in a report on Friday, April 14th. Finally, Piper Sandler cut their price objective on Chevron from $196.00 to $188.00 in a report on Tuesday, June 13th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average price target of $191.63.
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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