Jamison Private Wealth Management Inc. Buys 2,985 Shares of Chevron Corporation (NYSE:CVX)

Jamison Private Wealth Management Inc. raised its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,396 shares of the oil and gas company's stock after acquiring an additional 2,985 shares during the period. Chevron makes up 1.3% of Jamison Private Wealth Management Inc.'s investment portfolio, making the stock its 26th largest position. Jamison Private Wealth Management Inc.'s holdings in Chevron were worth $8,598,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Sage Capital Advisors llc lifted its position in Chevron by 2.2% in the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after purchasing an additional 919 shares during the last quarter. Pines Wealth Management LLC raised its holdings in Chevron by 3.3% in the first quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company's stock worth $1,306,000 after purchasing an additional 253 shares in the last quarter. Viking Fund Management LLC raised its holdings in Chevron by 9.3% in the first quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company's stock worth $19,573,000 after purchasing an additional 10,000 shares in the last quarter. Allianz SE purchased a new stake in shares of Chevron in the fourth quarter worth $9,369,000. Finally, Nicholas Company Inc. grew its stake in shares of Chevron by 4.3% in the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock worth $11,591,000 after acquiring an additional 3,280 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CVX. Piper Sandler cut their target price on Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Redburn Atlantic reiterated a "sell" rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. BNP Paribas cut Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their target price for the company from $160.00 to $143.00 in a report on Friday, April 11th. Finally, UBS Group lowered their price objective on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $160.24.

Chevron Stock Performance

NYSE:CVX opened at $149.36 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The stock's 50 day simple moving average is $139.37 and its two-hundred day simple moving average is $148.72. The company has a market cap of $260.84 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 2.60 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data 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 return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter in the previous year, the company posted $2.93 EPS. The company's revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio is currently 78.17%.

About Chevron

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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