PARK CIRCLE Co purchased a new stake in Chevron Co. (NYSE:CVX) during the first quarter, according to its most recent filing with the SEC. The fund purchased 500 shares of the oil and gas company’s stock, valued at approximately $36,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wealth Quarterback LLC bought a new stake in Chevron in the 4th quarter valued at $16,676,410,000. BlackRock Inc. grew its stake in shares of Chevron by 4.9% in the 1st quarter. BlackRock Inc. now owns 133,388,637 shares of the oil and gas company’s stock worth $9,665,343,000 after buying an additional 6,208,177 shares in the last quarter. State Street Corp grew its stake in shares of Chevron by 2.6% in the 1st quarter. State Street Corp now owns 117,055,351 shares of the oil and gas company’s stock worth $8,481,831,000 after buying an additional 2,914,316 shares in the last quarter. Capital International Investors grew its stake in shares of Chevron by 4.6% in the 4th quarter. Capital International Investors now owns 32,580,587 shares of the oil and gas company’s stock worth $3,926,286,000 after buying an additional 1,429,639 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Chevron by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 27,672,923 shares of the oil and gas company’s stock worth $3,328,591,000 after purchasing an additional 779,059 shares during the period. Institutional investors own 64.86% of the company’s stock.
A number of equities analysts recently commented on CVX shares. Credit Suisse Group lifted their price target on shares of Chevron from $81.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Jefferies Financial Group reaffirmed a “buy” rating and set a $92.00 price target on shares of Chevron in a research note on Friday, May 1st. Raymond James dropped their price target on shares of Chevron from $125.00 to $105.00 and set an “outperform” rating for the company in a research note on Tuesday, March 17th. UBS Group cut shares of Chevron from a “buy” rating to a “neutral” rating and set a $95.00 price target for the company. in a research note on Tuesday, May 12th. Finally, Argus reaffirmed a “buy” rating and set a $88.00 price target (down from $150.00) on shares of Chevron in a research note on Thursday, March 26th. Seven equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $112.27.
Chevron (NYSE:CVX) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $1.29. The business had revenue of $31.50 billion for the quarter, compared to analysts’ expectations of $30.46 billion. Chevron had a return on equity of 8.28% and a net margin of 2.71%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.47 EPS. Research analysts forecast that Chevron Co. will post -0.03 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be paid a $1.29 dividend. The ex-dividend date is Monday, May 18th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 5.60%. Chevron’s payout ratio is presently 82.30%.
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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