Aaron Wealth Advisors LLC boosted its holdings in Chevron Co. (NYSE:CVX – Free Report) by 23.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,313 shares of the oil and gas company’s stock after purchasing an additional 812 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Chevron were worth $704,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisor L.P raised its holdings in shares of Chevron by 85.1% during the 1st 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 acquiring an additional 73,141 shares in the last quarter. Axiom Financial Strategies LLC raised its holdings in shares of Chevron by 25.2% during the 1st quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after acquiring an additional 1,476 shares in the last quarter. GQG Partners LLC raised its holdings in shares of Chevron by 4.7% during the 1st quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after acquiring an additional 1,813 shares in the last quarter. Lumature Wealth Partners LLC raised its holdings in shares of Chevron by 43.5% during the 1st quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after acquiring an additional 1,770 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Chevron by 13.8% during the 1st quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after acquiring an additional 250,840 shares in the last quarter. 69.65% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on CVX. StockNews.com began coverage on Chevron in a report on Thursday, May 18th. They set a “hold” rating on the stock. BNP Paribas upgraded Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 price target on the stock in a report on Tuesday, April 4th. Citigroup decreased their price target on Chevron from $180.00 to $170.00 in a report on Tuesday, July 11th. Truist Financial decreased their price target on Chevron from $194.00 to $163.00 in a report on Monday. Finally, JPMorgan Chase & Co. upgraded Chevron from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $161.00 to $170.00 in a research note on Wednesday, May 31st. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.16.
Chevron Price Performance
CVX opened at $161.77 on Tuesday. Chevron Co. has a 12-month low of $140.46 and a 12-month high of $189.68. The company has a current ratio of 1.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.13. The business’s fifty day simple moving average is $155.68 and its 200-day simple moving average is $162.91. The company has a market capitalization of $306.50 billion, a price-to-earnings ratio of 8.73, a PEG ratio of 0.84 and a beta of 1.16.
Chevron (NYSE:CVX – Get Free Report) last issued its quarterly earnings data on Friday, April 28th. The oil and gas company reported $3.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.41 by $0.14. Chevron had a return on equity of 23.15% and a net margin of 14.74%. The company had revenue of $50.79 billion for the quarter, compared to the consensus estimate of $49.49 billion. During the same quarter last year, the company earned $3.36 earnings per share. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Co. will post 13.28 earnings per share for the current fiscal year.
Chevron Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Friday, May 19th were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend was Thursday, May 18th. Chevron’s payout ratio is currently 32.61%.
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.
Further Reading
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