Puzo Michael J lifted its position in Chevron Corporation (NYSE:CVX – Free Report) by 1.3% in the first quarter, HoldingsChannel reports. The firm owned 48,021 shares of the oil and gas company’s stock after buying an additional 616 shares during the period. Chevron makes up about 2.3% of Puzo Michael J’s portfolio, making the stock its 22nd biggest holding. Puzo Michael J’s holdings in Chevron were worth $8,033,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CVX. Pegasus Asset Management Inc. increased its stake in Chevron by 3.7% during the first quarter. Pegasus Asset Management Inc. now owns 29,900 shares of the oil and gas company’s stock worth $5,002,000 after acquiring an additional 1,075 shares during the last quarter. MN Wealth Advisors LLC increased its stake in Chevron by 4.5% during the 1st quarter. MN Wealth Advisors LLC now owns 2,790 shares of the oil and gas company’s stock worth $467,000 after buying an additional 121 shares during the period. Wolf Group Capital Advisors acquired a new stake in shares of Chevron in the first quarter valued at $231,000. Cornerstone Wealth Management LLC raised its position in Chevron by 1.3% in the 1st quarter. Cornerstone Wealth Management LLC now owns 23,195 shares of the oil and gas company’s stock valued at $3,880,000 after purchasing an additional 303 shares in the last quarter. Finally, Shepherd Financial Partners LLC raised its holdings in Chevron by 8.1% in the first quarter. Shepherd Financial Partners LLC now owns 4,764 shares of the oil and gas company’s stock valued at $797,000 after acquiring an additional 356 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have issued reports on CVX. Wells Fargo & Company decreased their price target on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a report on Monday, May 5th. BNP Paribas cut shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. UBS Group lowered their target price on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Redburn Atlantic reaffirmed a “sell” rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $160.24.
Chevron Price Performance
Shares of NYSE:CVX opened at $148.86 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The business’s fifty day moving average price is $138.78 and its two-hundred day moving average price is $148.91. The stock has a market cap of $259.97 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 2.56 and a beta of 0.83. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.
Chevron (NYSE:CVX – Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. 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 company earned $2.93 earnings per share. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.
Chevron Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.59%. The ex-dividend date was Monday, May 19th. Chevron’s payout ratio is 78.17%.
About Chevron
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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