Hatton Consulting Inc. bought a new position in shares of Chevron Co. (NYSE:CVX) in the 1st quarter, Holdings Channel reports. The fund bought 2,142 shares of the oil and gas company’s stock, valued at approximately $224,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Kendall Capital Management acquired a new stake in Chevron in the first quarter valued at approximately $222,000. Ausdal Financial Partners Inc. grew its stake in Chevron by 24.5% in the first quarter. Ausdal Financial Partners Inc. now owns 8,806 shares of the oil and gas company’s stock valued at $923,000 after acquiring an additional 1,732 shares during the period. Cullen Frost Bankers Inc. grew its stake in Chevron by 3.5% in the first quarter. Cullen Frost Bankers Inc. now owns 361,766 shares of the oil and gas company’s stock valued at $37,910,000 after acquiring an additional 12,128 shares during the period. Total Clarity Wealth Management Inc. acquired a new stake in Chevron in the first quarter valued at approximately $34,000. Finally, Gryphon Financial Partners LLC grew its stake in Chevron by 48.6% in the first quarter. Gryphon Financial Partners LLC now owns 5,000 shares of the oil and gas company’s stock valued at $524,000 after acquiring an additional 1,636 shares during the period. 62.27% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have commented on CVX shares. Morgan Stanley raised their price objective on Chevron from $113.00 to $127.00 and gave the company an “overweight” rating in a research note on Wednesday, March 17th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $124.00 target price on the stock in a report on Wednesday, March 17th. Evercore ISI raised their target price on Chevron from $98.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, March 23rd. Scotiabank restated a “sector perform” rating and issued a $115.00 target price on shares of Chevron in a report on Tuesday, March 16th. Finally, Wells Fargo & Company raised their target price on Chevron from $101.00 to $109.00 and gave the company an “equal weight” rating in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $113.00.
NYSE:CVX opened at $109.47 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.26 and a quick ratio of 0.97. The business has a fifty day simple moving average of $104.83 and a two-hundred day simple moving average of $94.36. Chevron Co. has a 1 year low of $65.16 and a 1 year high of $113.11. The company has a market capitalization of $211.06 billion, a P/E ratio of -17.83, a P/E/G ratio of 5.74 and a beta of 1.33.
Chevron (NYSE:CVX) last announced its quarterly earnings results on Thursday, April 29th. The oil and gas company reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.02). The company had revenue of $32.03 billion during the quarter, compared to analysts’ expectations of $31.82 billion. Chevron had a negative net margin of 10.86% and a positive return on equity of 1.75%. Chevron’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.29 earnings per share. As a group, analysts anticipate that Chevron Co. will post 0.03 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 10th. Stockholders of record on Wednesday, May 19th will be given a $1.34 dividend. The ex-dividend date is Tuesday, May 18th. This is a boost from Chevron’s previous quarterly dividend of $1.29. This represents a $5.36 annualized dividend and a dividend yield of 4.90%. Chevron’s payout ratio is 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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