Opus Capital Group LLC lowered its position in Chevron Co. (NYSE:CVX) by 13.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,625 shares of the oil and gas company’s stock after selling 990 shares during the period. Opus Capital Group LLC’s holdings in Chevron were worth $694,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kathmere Capital Management LLC purchased a new stake in Chevron in the 3rd quarter worth approximately $33,000. Rockland Trust Co. raised its stake in Chevron by 9.2% in the 4th quarter. Rockland Trust Co. now owns 206,558 shares of the oil and gas company’s stock valued at $17,444,000 after purchasing an additional 17,404 shares during the last quarter. Park National Corp OH increased its stake in shares of Chevron by 8.7% in the 4th quarter. Park National Corp OH now owns 236,875 shares of the oil and gas company’s stock worth $20,004,000 after acquiring an additional 18,901 shares during the last quarter. Private Trust Co. NA increased its stake in shares of Chevron by 5.3% in the 4th quarter. Private Trust Co. NA now owns 25,013 shares of the oil and gas company’s stock worth $2,112,000 after acquiring an additional 1,248 shares during the last quarter. Finally, American National Bank grew its holdings in shares of Chevron by 3.4% during the 4th quarter. American National Bank now owns 52,513 shares of the oil and gas company’s stock worth $4,435,000 after purchasing an additional 1,719 shares during the period. Hedge funds and other institutional investors own 62.27% of the company’s stock.
Shares of Chevron stock traded down $0.19 during trading on Tuesday, reaching $105.34. The company’s stock had a trading volume of 242,459 shares, compared to its average volume of 10,701,234. 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 Co. has a 12-month low of $65.16 and a 12-month high of $112.70. The company has a market capitalization of $203.10 billion, a P/E ratio of -17.27, a price-to-earnings-growth ratio of 5.74 and a beta of 1.33. The business has a 50 day moving average price of $104.24 and a 200-day moving average price of $92.40.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Thursday, April 29th. The oil and gas company reported $0.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.02). Chevron had a negative net margin of 10.86% and a positive return on equity of 1.75%. The business had revenue of $32.03 billion during the quarter, compared to analysts’ expectations of $31.82 billion. During the same quarter last year, the firm earned $1.29 earnings per share. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. Research analysts predict that Chevron Co. will post 0.03 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 10th. Investors of record on Wednesday, May 19th will be paid a $1.34 dividend. The ex-dividend date of this dividend is Tuesday, May 18th. This is an increase from Chevron’s previous quarterly dividend of $1.29. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.09%. Chevron’s payout ratio is 82.30%.
A number of equities analysts recently commented on CVX shares. 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. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and raised their target price for the company from $103.00 to $105.00 in a report on Thursday, January 14th. Citigroup started coverage on Chevron in a report on Wednesday, March 10th. They set a “neutral” rating and a $105.00 target price for the company. Truist raised their target price on Chevron from $105.00 to $130.00 in a report on Wednesday, March 10th. Finally, Zacks Investment Research upgraded Chevron from a “hold” rating to a “strong-buy” rating and set a $102.00 target price for the company in a report on Friday, January 29th. Ten equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $110.68.
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.