Apella Capital LLC increased its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 21.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,477 shares of the oil and gas company's stock after buying an additional 1,859 shares during the quarter. Apella Capital LLC's holdings in Chevron were worth $1,753,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Chevron during the 4th quarter worth approximately $3,017,750,000. Raymond James Financial Inc. acquired a new stake in shares of Chevron during the fourth quarter worth $1,036,302,000. GAMMA Investing LLC lifted its position in Chevron by 21,191.5% in the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock valued at $904,746,000 after acquiring an additional 5,382,847 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Chevron by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock worth $2,389,380,000 after purchasing an additional 2,432,756 shares during the period. Finally, Amundi increased its holdings in Chevron by 27.7% during the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock worth $1,323,549,000 after purchasing an additional 1,910,262 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms recently issued reports on CVX. BNP Paribas downgraded Chevron to a "cautious" rating in a report on Tuesday, April 15th. Barclays downgraded shares of Chevron from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Piper Sandler reduced their target price on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. UBS Group lowered their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Finally, Redburn Atlantic reissued a "sell" rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron has an average rating of "Hold" and an average target price of $160.24.
Check Out Our Latest Stock Report on CVX
Chevron Price Performance
Shares of Chevron stock traded up $3.31 during trading on Friday, reaching $140.21. 6,555,988 shares of the company's stock were exchanged, compared to its average volume of 8,110,480. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a market cap of $244.86 billion, a P/E ratio of 14.42, a PEG ratio of 1.46 and a beta of 0.83. The firm's 50-day moving average price is $139.54 and its 200 day moving average price is $149.95.
Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.93 earnings per share. As a group, research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.
Chevron Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.88%. Chevron's dividend payout ratio is currently 78.17%.
Chevron Profile
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Free Report)
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; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.
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