Van Strum & Towne Inc. grew its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 19.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,645 shares of the oil and gas company's stock after acquiring an additional 3,321 shares during the period. Chevron accounts for 1.2% of Van Strum & Towne Inc.'s holdings, making the stock its 28th largest position. Van Strum & Towne Inc.'s holdings in Chevron were worth $3,454,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently bought and sold shares of CVX. Life Planning Partners Inc acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $29,000. 10Elms LLP acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $29,000. Navigoe LLC acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $33,000. Finally, IFS Advisors LLC raised 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 buying an additional 116 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.
Chevron Price Performance
Shares of NYSE CVX traded up $2.00 during midday trading on Thursday, reaching $155.12. 6,702,288 shares of the company were exchanged, compared to its average volume of 9,459,602. The stock's 50-day moving average price is $144.59 and its 200-day moving average price is $148.73. The stock has a market cap of $270.90 billion, a P/E ratio of 17.73, a PEG ratio of 2.48 and a beta of 0.83. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17.
Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data 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 7.76% and a return on equity of 10.73%. The company had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. During the same quarter in the previous year, the firm posted $2.93 earnings per share. Chevron's revenue for the quarter was down 2.3% on a year-over-year basis. On average, sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.
Chevron Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.41%. Chevron's dividend payout ratio is 78.17%.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the stock. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. TD Cowen dropped their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Mizuho dropped their price target on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Piper Sandler restated an "overweight" rating on shares of Chevron in a research report on Tuesday, July 15th. Finally, Wells Fargo & Company boosted their price objective on shares of Chevron from $165.00 to $178.00 and gave the company an "overweight" rating in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Chevron presently has a consensus rating of "Hold" and a consensus target price of $162.13.
Read Our Latest Research Report on CVX
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.
Further Reading
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