Vivid Financial Management Inc. boosted its position in shares of Chevron Co. (NYSE:CVX) by 72.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,203 shares of the oil and gas company’s stock after acquiring an additional 7,638 shares during the quarter. Chevron accounts for approximately 0.9% of Vivid Financial Management Inc.’s investment portfolio, making the stock its 27th biggest position. Vivid Financial Management Inc.’s holdings in Chevron were worth $1,908,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of Chevron in the 4th quarter valued at $1,787,982,000. Morgan Stanley increased its holdings in shares of Chevron by 6.4% in the fourth quarter. Morgan Stanley now owns 19,122,688 shares of the oil and gas company’s stock valued at $1,614,912,000 after purchasing an additional 1,158,022 shares during the period. Charles Schwab Investment Management Inc. raised its position in Chevron by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,874,091 shares of the oil and gas company’s stock worth $1,171,665,000 after buying an additional 368,897 shares during the last quarter. FMR LLC increased its position in Chevron by 1.0% during the 4th quarter. FMR LLC now owns 9,158,037 shares of the oil and gas company’s stock worth $773,397,000 after purchasing an additional 93,672 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Chevron by 18.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 7,727,794 shares of the oil and gas company’s stock valued at $652,612,000 after buying an additional 1,188,386 shares in the last quarter. Hedge funds and other institutional investors own 62.27% of the company’s stock.
Several equities analysts recently weighed in on CVX shares. Citigroup assumed coverage on Chevron in a research note on Wednesday, March 10th. They issued a “neutral” rating and a $105.00 price objective for the company. Raymond James decreased their price target on shares of Chevron from $122.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday. Wells Fargo & Company dropped their target price on Chevron from $105.00 to $99.00 and set an “equal weight” rating for the company in a research note on Monday, February 1st. Evercore ISI upped their price target on shares of Chevron from $98.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 23rd. Finally, Truist lifted their price target on shares of Chevron from $105.00 to $130.00 in a research report on Wednesday, March 10th. Ten analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Chevron has a consensus rating of “Buy” and an average price target of $110.68.
Shares of CVX stock traded down $0.26 on Friday, reaching $103.16. The stock had a trading volume of 182,750 shares, compared to its average volume of 11,074,671. Chevron Co. has a 12 month low of $65.16 and a 12 month high of $112.70. The firm has a market capitalization of $198.89 billion, a price-to-earnings ratio of -16.80, a P/E/G ratio of 5.74 and a beta of 1.33. The firm’s 50-day moving average is $105.43 and its two-hundred day moving average is $89.70. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.26.
Chevron (NYSE:CVX) last announced its quarterly earnings results on Thursday, January 28th. The oil and gas company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.09). Chevron had a positive return on equity of 1.75% and a negative net margin of 10.86%. The business had revenue of $25.25 billion for the quarter, compared to analyst estimates of $25.97 billion. During the same period last year, the firm earned $1.49 EPS. Chevron’s quarterly revenue was down 30.5% compared to the same quarter last year. On average, sell-side analysts forecast that Chevron Co. will post 0.03 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 10th. Investors of record on Wednesday, February 17th were issued a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date was Tuesday, February 16th. 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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