CCM Investment Advisers LLC lessened its holdings in Chevron Co. (NYSE:CVX - Free Report) by 13.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,360 shares of the oil and gas company's stock after selling 11,500 shares during the period. CCM Investment Advisers LLC's holdings in Chevron were worth $12,105,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also modified their holdings of the company. Life Planning Partners Inc acquired a new stake in Chevron in the 4th quarter valued at approximately $25,000. IMG Wealth Management Inc. acquired a new stake in shares of Chevron in the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Chevron in the 4th quarter valued at $29,000. 10Elms LLP purchased a new stake in shares of Chevron in the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC lifted its stake in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after acquiring an additional 88 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have weighed in on CVX. Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. BNP Paribas cut shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Piper Sandler reduced their target price on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company dropped their price target on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Finally, TD Cowen cut their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $160.24.
Check Out Our Latest Analysis on Chevron
Chevron Stock Up 0.5%
Chevron stock traded up $0.77 during midday trading on Friday, reaching $145.74. The company's stock had a trading volume of 14,126,704 shares, compared to its average volume of 8,182,686. The company has a market cap of $254.52 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $138.53 and a 200-day simple moving average of $149.11. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.
Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.93 EPS. On average, research analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.
Chevron Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.69%. Chevron's dividend payout ratio is currently 78.17%.
About Chevron
(
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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