Accredited Investors Inc. raised its position in shares of Chevron Co. (NYSE:CVX) by 5.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,684 shares of the oil and gas company’s stock after buying an additional 233 shares during the quarter. Accredited Investors Inc.’s holdings in Chevron were worth $418,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in CVX. Unison Advisors LLC boosted its position in Chevron by 1.0% in the first quarter. Unison Advisors LLC now owns 11,414 shares of the oil and gas company’s stock valued at $827,000 after buying an additional 110 shares in the last quarter. Campbell Newman Asset Management Inc. boosted its position in Chevron by 2.4% during the second quarter. Campbell Newman Asset Management Inc. now owns 4,811 shares of the oil and gas company’s stock worth $429,000 after purchasing an additional 111 shares during the period. Nachman Norwood & Parrott Inc increased its holdings in shares of Chevron by 0.4% in the second quarter. Nachman Norwood & Parrott Inc now owns 30,912 shares of the oil and gas company’s stock valued at $2,758,000 after purchasing an additional 116 shares during the last quarter. Vivid Financial Management Inc. lifted its stake in shares of Chevron by 1.2% during the 1st quarter. Vivid Financial Management Inc. now owns 9,907 shares of the oil and gas company’s stock worth $718,000 after buying an additional 117 shares during the last quarter. Finally, Schulhoff & Co. Inc. boosted its holdings in shares of Chevron by 0.3% during the 1st quarter. Schulhoff & Co. Inc. now owns 38,957 shares of the oil and gas company’s stock worth $2,822,000 after buying an additional 118 shares during the period. Institutional investors own 64.60% of the company’s stock.
Several analysts recently issued reports on CVX shares. Royal Bank of Canada downgraded Chevron from a “sector perform” rating to an “underperform” rating and set a $100.00 price target for the company. in a research note on Wednesday, June 10th. JPMorgan Chase & Co. boosted their price target on Chevron from $103.00 to $109.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. Craig Hallum raised their price objective on Chevron from $81.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Scotiabank increased their target price on Chevron from $90.00 to $95.00 and gave the stock a “sector outperform” rating in a report on Monday, July 13th. Finally, Piper Sandler raised their price target on Chevron from $96.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $111.25.
Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, July 31st. The oil and gas company reported ($1.59) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.93) by ($0.66). The company had revenue of $13.95 billion for the quarter, compared to the consensus estimate of $21.71 billion. Chevron had a net margin of 2.71% and a return on equity of 8.28%. The firm’s quarterly revenue was down 64.1% on a year-over-year basis. During the same period last year, the business earned $1.77 EPS. Equities research analysts anticipate that Chevron Co. will post 0.8 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a $1.29 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 6.15%. Chevron’s dividend payout ratio is presently 82.30%.
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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