Salem Investment Counselors Inc. Has $5.15 Million Stock Position in Chevron Co. (NYSE:CVX)

Salem Investment Counselors Inc. lessened its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 10.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 30,785 shares of the oil and gas company's stock after selling 3,540 shares during the period. Salem Investment Counselors Inc.'s holdings in Chevron were worth $5,150,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Life Planning Partners Inc bought a new stake in shares of Chevron during the fourth quarter worth $25,000. IMG Wealth Management Inc. bought a new stake in shares of Chevron during the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron during the fourth quarter worth $29,000. 10Elms LLP bought a new stake in shares of Chevron during the fourth quarter worth $29,000. Finally, Fairway Wealth LLC boosted its holdings in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after acquiring an additional 88 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CVX shares. Piper Sandler decreased their price target on Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Mizuho decreased their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Scotiabank cut Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. HSBC cut Chevron from a "buy" rating to a "hold" rating and reduced their target price for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Finally, DZ Bank cut Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a report on Tuesday, May 6th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $160.24.

Chevron Stock Up 0.5%

Chevron stock traded up $0.77 during midday trading on Friday, reaching $145.74. The stock had a trading volume of 14,126,704 shares, compared to its average volume of 8,174,571. The firm's fifty day simple moving average is $138.35 and its 200-day simple moving average is $149.32. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The stock has a market capitalization of $254.52 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating 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 business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter last year, the firm earned $2.93 EPS. Chevron's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio is presently 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.