Liberty Capital Management Inc. Has $387,000 Stock Holdings in Chevron Co. (NYSE:CVX)

Liberty Capital Management Inc. increased its stake in shares of Chevron Co. (NYSE:CVX) by 35.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,316 shares of the oil and gas company’s stock after purchasing an additional 612 shares during the quarter. Liberty Capital Management Inc.’s holdings in Chevron were worth $387,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. IMG Wealth Management Inc. acquired a new position in Chevron during the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron during the 4th quarter worth approximately $29,000. 10Elms LLP bought a new stake in Chevron during the 4th quarter worth approximately $29,000. Fairway Wealth LLC grew its holdings in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 88 shares during the last quarter. Finally, IFS Advisors LLC grew its holdings in Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 116 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 0.1%

Shares of NYSE CVX opened at $144.90 on Friday. The firm has a market cap of $253.05 billion, a PE ratio of 14.91, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The company’s fifty day simple moving average is $138.35 and its 200 day simple moving average is $149.32. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter in the prior year, the company posted $2.93 earnings per share. The business’s revenue was down 2.3% on a year-over-year basis. As a group, sell-side analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.72%. Chevron’s payout ratio is 78.17%.

Analysts Set New Price Targets

CVX has been the topic of a number of research reports. UBS Group reduced their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Piper Sandler reduced their target price on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Redburn Atlantic reissued a “sell” rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. BNP Paribas lowered shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Finally, Hsbc Global Res lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $160.24.

Chevron Company Profile

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.