Chevron Co. (NYSE:CVX) Shares Purchased by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB grew its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 316,338 shares of the oil and gas company's stock after acquiring an additional 9,408 shares during the period. Chevron accounts for approximately 1.5% of MassMutual Private Wealth & Trust FSB's portfolio, making the stock its 12th largest holding. MassMutual Private Wealth & Trust FSB's holdings in Chevron were worth $52,920,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Fire Capital Management LLC purchased a new position in shares of Chevron in the fourth quarter worth about $598,000. Mascagni Wealth Management Inc. purchased a new position in Chevron in the 4th quarter worth approximately $940,000. DSG Capital Advisors LLC purchased a new position in Chevron in the 4th quarter worth approximately $2,743,000. Chancellor Financial Group WB LP purchased a new stake in Chevron during the 4th quarter valued at $632,000. Finally, Triton Wealth Management PLLC increased its stake in shares of Chevron by 24.8% in the 4th quarter. Triton Wealth Management PLLC now owns 2,913 shares of the oil and gas company's stock worth $461,000 after purchasing an additional 578 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Barclays lowered Chevron from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. BNP Paribas lowered Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Truist Financial dropped their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a report on Tuesday, February 4th. Raymond James dropped their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Finally, Mizuho dropped their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Three equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $160.24.

Chevron Trading Down 1.1%

CVX traded down $1.48 during trading hours on Friday, reaching $136.43. The company's stock had a trading volume of 12,856,437 shares, compared to its average volume of 8,115,075. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a market cap of $238.26 billion, a PE ratio of 14.04, a P/E/G ratio of 1.46 and a beta of 0.83. The business's 50-day moving average is $142.47 and its 200-day moving average is $150.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

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

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's dividend payout ratio is currently 78.17%.

Chevron Company Profile

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.