New Potomac Partners LLC Raises Stake in Chevron Co. (NYSE:CVX)

New Potomac Partners LLC boosted its position in Chevron Co. (NYSE:CVXFree Report) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,129 shares of the oil and gas company’s stock after buying an additional 483 shares during the quarter. New Potomac Partners LLC’s holdings in Chevron were worth $2,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management bought a new stake in Chevron in the third quarter valued at approximately $26,000. Valley Forge Investment Consultants Inc. ADV lifted its position in Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the last quarter. DHJJ Financial Advisors Ltd. bought a new stake in Chevron in the third quarter valued at approximately $35,000. Valued Wealth Advisors LLC bought a new stake in Chevron in the fourth quarter valued at approximately $33,000. Finally, Worth Asset Management LLC bought a new stake in Chevron in the first quarter valued at approximately $36,000. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research report on Tuesday, February 6th. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a report on Monday, January 8th. Piper Sandler decreased their target price on Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $170.00 to $150.00 in a report on Tuesday, January 23rd. Finally, UBS Group decreased their target price on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, December 14th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $180.39.

View Our Latest Stock Report on CVX

Chevron Trading Up 0.9 %

NYSE CVX opened at $157.74 on Friday. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.88. The stock has a market cap of $292.97 billion, a P/E ratio of 13.89, a P/E/G ratio of 2.42 and a beta of 1.12. The stock’s fifty day moving average price is $152.23 and its 200-day moving average price is $152.67. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVXGet Free Report) last released its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. During the same period in the prior year, the firm posted $4.09 earnings per share. The company’s quarterly revenue was down 16.5% on a year-over-year basis. As a group, equities analysts forecast that Chevron Co. will post 13.04 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio is currently 57.39%.

About Chevron

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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