Manning & Napier Advisors LLC decreased its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 5.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 277,637 shares of the oil and gas company's stock after selling 16,476 shares during the quarter. Manning & Napier Advisors LLC's holdings in Chevron were worth $46,446,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in CVX. IMG Wealth Management Inc. acquired a new stake in shares of Chevron in the 4th quarter worth $25,000. Life Planning Partners Inc acquired a new stake in Chevron during the 4th quarter worth about $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron during the 4th quarter worth about $29,000. 10Elms LLP acquired a new stake in Chevron during the 4th quarter worth about $29,000. Finally, Fairway Wealth LLC lifted its position 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 during the period. Institutional investors and hedge funds own 72.42% of the company's stock.
Chevron Price Performance
Shares of Chevron stock opened at $149.36 on Friday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The business has a 50-day moving average price of $139.37 and a 200 day moving average price of $148.65. 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 firm has a market cap of $260.84 billion, a PE ratio of 17.07, a P/E/G ratio of 2.63 and a beta of 0.83.
Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same period in the previous year, the business earned $2.93 EPS. Chevron's quarterly revenue was down 2.3% on a year-over-year basis. Sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.
Chevron Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.58%. Chevron's dividend payout ratio (DPR) is presently 78.17%.
Analyst Upgrades and Downgrades
A number of analysts have commented on CVX shares. Mizuho lowered their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Piper Sandler lowered their price target on Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Barclays cut Chevron from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $160.24.
Check Out Our Latest Report on CVX
Chevron Profile
(
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.
Further Reading
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