NN Investment Partners Holdings N.V. Increases Holdings in Chevron Co. (NYSE:CVX)


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NN Investment Partners Holdings N.V. raised its stake in shares of Chevron Co. (NYSE:CVX) by 14.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 995,841 shares of the oil and gas company’s stock after buying an additional 125,564 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Chevron were worth $104,353,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Krilogy Financial LLC increased its stake in shares of Chevron by 2.2% in the first quarter. Krilogy Financial LLC now owns 4,600 shares of the oil and gas company’s stock worth $482,000 after buying an additional 98 shares during the last quarter. Professional Advisory Services Inc. increased its stake in shares of Chevron by 2.5% in the first quarter. Professional Advisory Services Inc. now owns 4,100 shares of the oil and gas company’s stock worth $430,000 after buying an additional 100 shares during the last quarter. Bedel Financial Consulting Inc. increased its stake in shares of Chevron by 1.1% in the first quarter. Bedel Financial Consulting Inc. now owns 9,474 shares of the oil and gas company’s stock worth $993,000 after buying an additional 101 shares during the last quarter. Carlson Capital Management increased its stake in shares of Chevron by 2.8% in the first quarter. Carlson Capital Management now owns 3,846 shares of the oil and gas company’s stock worth $403,000 after buying an additional 103 shares during the last quarter. Finally, Advisory Resource Group increased its stake in shares of Chevron by 2.4% in the fourth quarter. Advisory Resource Group now owns 4,446 shares of the oil and gas company’s stock worth $375,000 after buying an additional 106 shares during the last quarter. Institutional investors and hedge funds own 62.27% of the company’s stock.

NYSE CVX remained flat at $$105.53 on Tuesday. The company’s stock had a trading volume of 316,574 shares, 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 12-month low of $65.16 and a 12-month high of $112.70. The company’s fifty day moving average price is $104.24 and its 200 day moving average price is $92.40. The company has a market cap of $203.47 billion, a price-to-earnings ratio of -17.27, a P/E/G ratio of 5.74 and a beta of 1.33.

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

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 10th. Shareholders of record on Wednesday, May 19th will be paid a $1.34 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.29. The ex-dividend date is Tuesday, May 18th. This represents a $5.36 annualized dividend and a yield of 5.08%. Chevron’s dividend payout ratio is presently 82.30%.

A number of equities analysts have commented on CVX shares. Evercore ISI lifted their price objective on shares of Chevron from $98.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, March 23rd. Piper Sandler lifted their price objective on shares of Chevron from $113.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, April 1st. Morgan Stanley lifted their price objective on shares of Chevron from $113.00 to $127.00 and gave the stock an “overweight” rating in a report on Wednesday, March 17th. Truist lifted their price objective on shares of Chevron from $105.00 to $130.00 in a report on Wednesday, March 10th. Finally, Wells Fargo & Company decreased their price objective on shares of Chevron from $105.00 to $99.00 and set an “equal weight” rating for the company in a report on Monday, February 1st. Ten research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $110.68.

Chevron Company Profile

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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