Geneva Partners LLC trimmed its holdings in Chevron Co. (NYSE:CVX – Free Report) by 21.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,559 shares of the oil and gas company’s stock after selling 5,889 shares during the quarter. Chevron accounts for about 3.0% of Geneva Partners LLC’s portfolio, making the stock its 12th biggest holding. Geneva Partners LLC’s holdings in Chevron were worth $3,518,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Cantor Fitzgerald Investment Advisor L.P boosted its holdings in shares of Chevron by 85.1% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock worth $25,908,000 after buying an additional 73,141 shares during the period. Axiom Financial Strategies LLC boosted its holdings in shares of Chevron by 25.2% in the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after buying an additional 1,476 shares during the period. GQG Partners LLC boosted its holdings in shares of Chevron by 4.7% in the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after buying an additional 1,813 shares during the period. Lumature Wealth Partners LLC boosted its holdings in shares of Chevron by 43.5% in the first quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after buying an additional 1,770 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of Chevron by 13.8% in the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after buying an additional 250,840 shares during the period. 69.65% of the stock is owned by institutional investors and hedge funds.
Chevron Trading Down 2.5 %
Shares of Chevron stock opened at $153.58 on Friday. The company’s fifty day simple moving average is $155.83 and its 200-day simple moving average is $163.85. The company has a market cap of $290.98 billion, a price-to-earnings ratio of 8.29, a PEG ratio of 0.80 and a beta of 1.16. The company has a current ratio of 1.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1 year low of $136.43 and a 1 year high of $189.68.
Chevron Dividend Announcement
The business 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 annualized dividend and a dividend yield of 3.93%. Chevron’s payout ratio is 32.61%.
Analyst Ratings Changes
Several brokerages recently weighed in on CVX. Citigroup cut their price objective on shares of Chevron from $180.00 to $170.00 in a research report on Tuesday, July 11th. Piper Sandler cut their price objective on shares of Chevron from $196.00 to $188.00 in a research report on Tuesday, June 13th. JPMorgan Chase & Co. raised shares of 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 report on Wednesday, May 31st. Truist Financial cut their price objective on shares of Chevron from $193.00 to $190.00 in a research report on Monday, May 1st. Finally, BNP Paribas raised shares of Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 price objective on the stock in a research report on Tuesday, April 4th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $191.63.
Chevron Company 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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