Gradient Investments LLC grew its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 6.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 253,375 shares of the oil and gas company's stock after purchasing an additional 15,908 shares during the quarter. Chevron comprises about 0.9% of Gradient Investments LLC's portfolio, making the stock its 24th biggest holding. Gradient Investments LLC's holdings in Chevron were worth $39,967,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in CVX. Wesbanco Bank Inc. increased its holdings in shares of Chevron by 16.6% during the 1st quarter. Wesbanco Bank Inc. now owns 227,996 shares of the oil and gas company's stock worth $35,964,000 after acquiring an additional 32,510 shares during the last quarter. Summit Trail Advisors LLC boosted its position in Chevron by 163.2% during the first quarter. Summit Trail Advisors LLC now owns 32,770 shares of the oil and gas company's stock worth $5,169,000 after purchasing an additional 20,321 shares during the period. Regatta Capital Group LLC increased its holdings in shares of Chevron by 14.9% in the first quarter. Regatta Capital Group LLC now owns 5,294 shares of the oil and gas company's stock valued at $835,000 after purchasing an additional 688 shares during the last quarter. Stablepoint Partners LLC raised its position in shares of Chevron by 21.4% in the first quarter. Stablepoint Partners LLC now owns 36,003 shares of the oil and gas company's stock valued at $5,679,000 after purchasing an additional 6,347 shares during the period. Finally, Principle Wealth Partners LLC boosted its holdings in shares of Chevron by 3.8% during the 1st quarter. Principle Wealth Partners LLC now owns 37,056 shares of the oil and gas company's stock worth $5,845,000 after buying an additional 1,369 shares during the period. Institutional investors own 72.42% of the company's stock.
Wall Street Analyst Weigh In
CVX has been the subject of several research reports. The Goldman Sachs Group restated a "buy" rating on shares of Chevron in a research report on Monday, April 1st. Royal Bank of Canada boosted their price target on Chevron from $185.00 to $190.00 and gave the company an "outperform" rating in a research note on Monday, February 5th. TD Cowen lifted their target price on Chevron from $155.00 to $160.00 and gave the stock a "hold" rating in a report on Monday, April 29th. Truist Financial decreased their price target on shares of Chevron from $168.00 to $156.00 and set a "hold" rating on the stock in a research note on Friday, April 5th. Finally, Barclays started coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an "overweight" rating and a $203.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has an average rating of "Moderate Buy" and a consensus price target of $185.35.
Check Out Our Latest Stock Report on Chevron
Chevron Price Performance
CVX stock traded down $0.48 during trading on Friday, reaching $160.25. 11,664,505 shares of the company were exchanged, compared to its average volume of 7,516,580. The company has a market capitalization of $297.63 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 2.38 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The company has a 50-day moving average of $157.26 and a two-hundred day moving average of $151.76. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70.
Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The company's revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.55 earnings per share. As a group, equities analysts predict that Chevron Co. will post 13.53 earnings per share for the current fiscal year.
Chevron Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Thursday, May 16th. Chevron's payout ratio is 59.98%.
Insider Transactions at Chevron
In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company's stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.20% of the company's stock.
Chevron Profile
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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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