KMG Fiduciary Partners LLC Increases Holdings in Chevron Co. (NYSE:CVX)

KMG Fiduciary Partners LLC lifted its position in Chevron Co. (NYSE:CVX - Free Report) by 7.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 73,253 shares of the oil and gas company's stock after purchasing an additional 4,775 shares during the period. Chevron accounts for about 1.0% of KMG Fiduciary Partners LLC's investment portfolio, making the stock its 22nd biggest position. KMG Fiduciary Partners LLC's holdings in Chevron were worth $12,254,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in Chevron by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock worth $5,247,142,000 after buying an additional 392,916 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Chevron by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company's stock worth $4,613,960,000 after buying an additional 746,806 shares in the last quarter. Norges Bank bought a new position in Chevron in the fourth quarter worth approximately $3,017,750,000. Northern Trust Corp raised its stake in Chevron by 7.3% in the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock worth $2,965,135,000 after buying an additional 1,394,091 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in Chevron by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock worth $2,881,280,000 after buying an additional 410,460 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CVX. TD Cowen reduced their price objective 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. Wells Fargo & Company reduced their price target on Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Piper Sandler reduced their price target on Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Mizuho reduced their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Finally, Scotiabank downgraded Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their price target for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. 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. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $160.24.

Chevron Trading Up 2.4%

CVX stock opened at $140.21 on Friday. The company's 50-day simple moving average is $138.98 and its 200-day simple moving average is $149.73. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The firm has a market cap of $244.86 billion, a P/E ratio of 14.42, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter in the prior year, the firm earned $2.93 EPS. The company's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, equities analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.88%. Chevron's dividend payout ratio (DPR) is presently 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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