Viking Fund Management LLC grew its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 9.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,000 shares of the oil and gas company's stock after buying an additional 10,000 shares during the quarter. Chevron accounts for approximately 2.8% of Viking Fund Management LLC's portfolio, making the stock its 3rd largest holding. Viking Fund Management LLC's holdings in Chevron were worth $19,573,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. Life Planning Partners Inc bought a new position in shares of Chevron during the fourth quarter valued at about $25,000. IMG Wealth Management Inc. bought a new position in Chevron during the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Chevron in the 4th quarter worth approximately $29,000. 10Elms LLP purchased a new stake in Chevron in the 4th quarter worth approximately $29,000. Finally, Fairway Wealth LLC lifted its holdings in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after buying an additional 88 shares during the period. 72.42% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
CVX has been the subject of several research analyst reports. Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. DZ Bank cut Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a report on Tuesday, May 6th. HSBC cut Chevron from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. UBS Group dropped their price objective on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, Mizuho dropped their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $160.24.
Check Out Our Latest Research Report on Chevron
Chevron Stock Up 2.4%
CVX stock traded up $3.31 during midday trading on Friday, hitting $140.21. The company's stock had a trading volume of 6,555,988 shares, compared to its average volume of 8,122,076. The company has a market cap of $244.86 billion, a PE ratio of 14.42, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm's 50-day moving average is $138.98 and its 200-day moving average is $149.81.
Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.93 EPS. On average, equities research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.
Chevron Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.88%. Chevron's payout ratio is 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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