HighPoint Advisor Group LLC lifted its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 4.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,689 shares of the oil and gas company's stock after purchasing an additional 2,609 shares during the period. HighPoint Advisor Group LLC's holdings in Chevron were worth $10,822,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Life Planning Partners Inc acquired a new stake in shares of Chevron during the fourth quarter worth approximately $25,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron during the fourth quarter worth approximately $29,000. 10Elms LLP acquired a new stake in shares of Chevron during the fourth quarter worth approximately $29,000. Navigoe LLC acquired a new stake in shares of Chevron during the fourth quarter worth approximately $33,000. Finally, IFS Advisors LLC boosted its holdings in shares of Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after purchasing an additional 116 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.
Analysts Set New Price Targets
CVX has been the subject of several research reports. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a report on Friday, July 18th. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Piper Sandler reiterated an "overweight" rating on shares of Chevron in a research note on Tuesday, July 15th. TD Cowen reduced their target price on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Finally, DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a research note on Tuesday, May 6th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $162.13.
Check Out Our Latest Stock Report on CVX
Chevron Stock Performance
Shares of NYSE:CVX traded up $2.00 during trading on Thursday, reaching $155.12. The stock had a trading volume of 6,702,288 shares, compared to its average volume of 9,459,602. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The firm has a market capitalization of $270.90 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 2.48 and a beta of 0.83. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The stock has a fifty day simple moving average of $144.59 and a two-hundred day simple moving average of $148.73.
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 (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the previous year, the firm posted $2.93 earnings per share. Chevron's revenue was down 2.3% compared to the same quarter last year. As a group, analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.
Chevron Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio (DPR) 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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