Ramsay Stattman Vela & Price Inc. lifted its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 16.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 41,430 shares of the oil and gas company's stock after acquiring an additional 5,816 shares during the period. Chevron accounts for 1.3% of Ramsay Stattman Vela & Price Inc.'s portfolio, making the stock its 27th biggest holding. Ramsay Stattman Vela & Price Inc.'s holdings in Chevron were worth $6,931,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. IMG Wealth Management Inc. acquired a new stake in Chevron during the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron in the fourth quarter valued at about $29,000. 10Elms LLP acquired a new stake in shares of Chevron in the fourth quarter valued at about $29,000. IFS Advisors LLC grew its position in shares of Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 116 shares during the last quarter. Finally, Navigoe LLC acquired a new position in shares of Chevron during the fourth quarter worth approximately $33,000. Institutional investors own 72.42% of the company's stock.
Wall Street Analyst Weigh In
CVX has been the topic of several research analyst reports. Scotiabank raised their price target on shares of Chevron from $143.00 to $160.00 and gave the stock a "sector perform" rating in a research report on Friday. UBS Group cut their price target on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. Piper Sandler lifted their price target on shares of Chevron from $162.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 2nd. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, BNP Paribas lowered shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $161.65.
View Our Latest Report on CVX
Chevron Stock Performance
Shares of CVX stock traded up $1.21 on Friday, reaching $155.38. The stock had a trading volume of 8,332,244 shares, compared to its average volume of 8,352,057. 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's 50-day moving average is $142.28 and its two-hundred day moving average is $148.33. The firm has a market capitalization of $271.35 billion, a price-to-earnings ratio of 17.76, a P/E/G ratio of 2.61 and a beta of 0.83. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.
Chevron (NYSE:CVX - Get Free Report) last issued its earnings results 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 the consensus estimate of $49.05 billion. During the same period in the previous year, the company posted $2.93 EPS. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.
Chevron Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.40%. The ex-dividend date was Monday, May 19th. Chevron's payout ratio is presently 78.17%.
About Chevron
(
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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