Townsquare Capital LLC Purchases 31,629 Shares of Chevron Corporation (NYSE:CVX)
Townsquare Capital LLC increased its stake in Chevron Corporation (NYSE:CVX) by 11.6% in Q1, acquiring 31,629 shares, bringing its total to 304,156 shares valued at $50.88 million. Other institutional investors also adjusted their holdings. Analyst ratings for Chevron vary, with a consensus rating of "Hold" and an average target price of $164.11. Chevron's stock opened at $153.11, with a recent earnings report showing $1.77 EPS, exceeding estimates. The company announced a quarterly dividend of $1.71, yielding 4.5%.
Townsquare Capital LLC grew its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 11.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 304,156 shares of the oil and gas company's stock after purchasing an additional 31,629 shares during the period. Townsquare Capital LLC's holdings in Chevron were worth $50,882,000 at the end of the most recent reporting period.
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Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd grew its stake in shares of Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 122 shares during the last quarter. 10Elms LLP purchased a new position in Chevron during the fourth quarter valued at $29,000. IFS Advisors LLC grew its holdings in shares of Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after buying an additional 116 shares during the last quarter. Navigoe LLC bought a new stake in shares of Chevron in the 4th quarter worth $33,000. Finally, Cloud Capital Management LLC purchased a new position in shares of Chevron in the first quarter worth $39,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
CVX has been the subject of a number of recent analyst reports. Jefferies Financial Group reissued a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Morgan Stanley initiated coverage on shares of Chevron in a report on Monday. They issued an "overweight" rating and a $174.00 target price on the stock. DZ Bank downgraded Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a research note on Tuesday, May 6th. BNP Paribas cut Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Finally, Redburn Atlantic reaffirmed a "sell" rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $164.11.
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Read Our Latest Stock Analysis on CVX
Chevron Stock Up 0.2%
Shares of CVX opened at $153.11 on Friday. The business's 50 day simple moving average is $148.08 and its 200-day simple moving average is $148.65. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The stock has a market capitalization of $267.40 billion, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 2.29 and a beta of 0.87. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82.
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Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.80%. The business's quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.55 EPS. As a group, equities analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.
Chevron Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be issued a $1.71 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. Chevron's payout ratio is 88.03%.
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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