Hyman Charles D Boosts Stake in Chevron Co. (NYSE:CVX)


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Hyman Charles D grew its stake in Chevron Co. (NYSE:CVX) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 122,994 shares of the oil and gas company’s stock after buying an additional 2,424 shares during the period. Hyman Charles D’s holdings in Chevron were worth $12,889,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GW Henssler & Associates Ltd. increased its stake in shares of Chevron by 16.9% in the first quarter. GW Henssler & Associates Ltd. now owns 238,114 shares of the oil and gas company’s stock worth $24,952,000 after acquiring an additional 34,420 shares during the period. Meeder Asset Management Inc. increased its stake in shares of Chevron by 154.5% in the first quarter. Meeder Asset Management Inc. now owns 26,130 shares of the oil and gas company’s stock worth $2,738,000 after acquiring an additional 15,862 shares during the period. NN Investment Partners Holdings N.V. increased its stake in shares of Chevron by 14.4% in the first quarter. NN Investment Partners Holdings N.V. now owns 995,841 shares of the oil and gas company’s stock worth $104,353,000 after acquiring an additional 125,564 shares during the period. Monterey Private Wealth Inc. increased its stake in shares of Chevron by 9.4% in the first quarter. Monterey Private Wealth Inc. now owns 5,918 shares of the oil and gas company’s stock worth $601,000 after acquiring an additional 509 shares during the period. Finally, JustInvest LLC increased its stake in shares of Chevron by 65.0% in the first quarter. JustInvest LLC now owns 16,213 shares of the oil and gas company’s stock worth $1,699,000 after acquiring an additional 6,385 shares during the period. 62.27% of the stock is owned by institutional investors and hedge funds.

NYSE CVX traded up $0.76 on Tuesday, hitting $106.29. 383,706 shares of the stock were exchanged, compared to its average volume of 10,701,234. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.26. Chevron Co. has a fifty-two week low of $65.16 and a fifty-two week high of $112.70. The company has a market cap of $204.93 billion, a PE ratio of -17.27, a PEG ratio of 5.74 and a beta of 1.33. The company has a 50-day moving average price of $104.24 and a 200-day moving average price of $92.40.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Thursday, April 29th. The oil and gas company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). Chevron had a positive return on equity of 1.75% and a negative net margin of 10.86%. The company had revenue of $32.03 billion for the quarter, compared to analysts’ expectations of $31.82 billion. During the same quarter in the prior year, the firm posted $1.29 EPS. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, equities research analysts predict that Chevron Co. will post 0.03 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 10th. Stockholders of record on Wednesday, May 19th will be paid a dividend of $1.34 per share. The ex-dividend date of this dividend is Tuesday, May 18th. This is a boost from Chevron’s previous quarterly dividend of $1.29. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.04%. Chevron’s dividend payout ratio is 82.30%.

A number of analysts have recently weighed in on the stock. Piper Sandler increased their price objective on shares of Chevron from $113.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, April 1st. Truist raised their price target on shares of Chevron from $105.00 to $130.00 in a research report on Wednesday, March 10th. Evercore ISI lifted their target price on shares of Chevron from $98.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, March 23rd. Jefferies Financial Group downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $98.00 target price on the stock. in a research note on Thursday, January 21st. Finally, Credit Suisse Group lifted their target price on shares of Chevron from $115.00 to $126.00 and gave the stock an “outperform” rating in a research note on Monday, March 15th. Ten research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Chevron has a consensus rating of “Buy” and a consensus price target of $110.68.

About Chevron

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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