Chevron Co. (NYSE:CVX) Stock Position Increased by State of Wyoming
The State of Wyoming increased its stake in Chevron Co. (NYSE:CVX) by 662.3% in Q4, owning 2,226 shares valued at $322,000. Other hedge funds also raised their positions. Analysts have mixed ratings on Chevron, with a current average rating of "Hold" and a price target of $160.24. Chevron's stock opened at $135.57, with a market cap of $236.75 billion. The company reported Q1 earnings of $2.18 EPS, beating estimates, but revenue fell 2.3% year-over-year. A quarterly dividend is set for June 10th.
State of Wyoming boosted its position in Chevron Co. (NYSE:CVX - Free Report) by 662.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,226 shares of the oil and gas company's stock after purchasing an additional 1,934 shares during the quarter. State of Wyoming's holdings in Chevron were worth $322,000 at the end of the most recent quarter.
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Several other hedge funds have also recently bought and sold shares of CVX. TFB Advisors LLC raised its position in shares of Chevron by 2.4% during the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company's stock worth $411,000 after buying an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. grew its position in Chevron by 1.4% during the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock valued at $677,000 after purchasing an additional 66 shares in the last quarter. Parkside Financial Bank & Trust grew its position in Chevron by 0.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock valued at $2,207,000 after purchasing an additional 66 shares in the last quarter. Western Pacific Wealth Management LP grew its position in Chevron by 14.9% during the fourth quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company's stock valued at $75,000 after purchasing an additional 67 shares in the last quarter. Finally, Berkeley Capital Partners LLC lifted its stake in Chevron by 0.4% in the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock valued at $2,572,000 after acquiring an additional 67 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a research note on Tuesday, May 6th. Piper Sandler lowered their price target 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. Finally, BNP Paribas lowered shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $160.24.
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View Our Latest Stock Analysis on Chevron
Chevron Stock Down 1.2%
Shares of NYSE:CVX opened at $135.57 on Thursday. 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 Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The firm has a market cap of $236.75 billion, a P/E ratio of 13.95, a P/E/G ratio of 1.46 and a beta of 0.83. The company's 50-day moving average price is $145.61 and its two-hundred day moving average price is $151.50.
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Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the prior year, the company posted $2.93 EPS. The company's revenue was down 2.3% compared to the same quarter last year. As a group, research analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.
Chevron Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.05%. Chevron's dividend payout ratio is 78.17%.
Chevron Profile
(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.
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