Salvus Wealth Management LLC lessened its position in shares of Chevron Co. (NYSE:CVX – Get Rating) by 7.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,206 shares of the oil and gas company’s stock after selling 445 shares during the quarter. Salvus Wealth Management LLC’s holdings in Chevron were worth $848,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in CVX. Evanson Asset Management LLC raised its stake in Chevron by 0.4% in the 1st quarter. Evanson Asset Management LLC now owns 16,341 shares of the oil and gas company’s stock valued at $2,661,000 after purchasing an additional 70 shares during the last quarter. Allied Investment Advisors LLC raised its stake in Chevron by 0.7% in the 1st quarter. Allied Investment Advisors LLC now owns 70,977 shares of the oil and gas company’s stock valued at $11,557,000 after purchasing an additional 484 shares during the last quarter. Oakworth Capital Inc. raised its stake in Chevron by 2.7% in the 1st quarter. Oakworth Capital Inc. now owns 15,328 shares of the oil and gas company’s stock valued at $2,496,000 after purchasing an additional 409 shares during the last quarter. Hummer Financial Advisory Services Inc raised its stake in Chevron by 8.3% in the 1st quarter. Hummer Financial Advisory Services Inc now owns 4,803 shares of the oil and gas company’s stock valued at $782,000 after purchasing an additional 370 shares during the last quarter. Finally, Veriti Management LLC raised its stake in Chevron by 10.3% in the 1st quarter. Veriti Management LLC now owns 33,386 shares of the oil and gas company’s stock valued at $5,436,000 after purchasing an additional 3,122 shares during the last quarter. 65.89% of the stock is owned by institutional investors and hedge funds.
CVX has been the subject of several analyst reports. Raymond James boosted their target price on shares of Chevron from $173.00 to $191.00 and gave the company an “outperform” rating in a research note on Monday, April 18th. Morgan Stanley cut their target price on shares of Chevron from $188.00 to $185.00 and set an “equal weight” rating for the company in a research note on Monday, June 6th. Truist Financial cut their target price on shares of Chevron from $186.00 to $181.00 in a research note on Monday, May 2nd. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $167.00 target price for the company in a research note on Wednesday, March 2nd. Finally, Credit Suisse Group upped their price objective on shares of Chevron from $190.00 to $202.00 and gave the company an “outperform” rating in a research note on Thursday, June 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average price target of $169.57.
Shares of NYSE:CVX opened at $147.87 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.22 and a current ratio of 1.43. Chevron Co. has a 1 year low of $92.86 and a 1 year high of $182.40. The stock has a market capitalization of $290.54 billion, a P/E ratio of 13.90, a PEG ratio of 0.67 and a beta of 1.09. The stock has a 50-day simple moving average of $167.41 and a 200-day simple moving average of $149.45.
Chevron (NYSE:CVX – Get Rating) last issued its earnings results on Friday, April 29th. The oil and gas company reported $3.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.44 by ($0.08). Chevron had a return on equity of 14.66% and a net margin of 11.10%. The firm had revenue of $54.37 billion for the quarter, compared to analysts’ expectations of $54.96 billion. During the same quarter in the previous year, the firm posted $0.90 EPS. The firm’s revenue for the quarter was up 69.8% compared to the same quarter last year. Analysts predict that Chevron Co. will post 17.5 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Thursday, May 19th were issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend was Wednesday, May 18th. Chevron’s payout ratio is currently 53.38%.
Chevron Company Profile (Get Rating)
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 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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