Lifestyle Asset Management Inc. acquired a new stake in Chevron Co. (NYSE:CVX – Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 1,254 shares of the oil and gas company’s stock, valued at approximately $205,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rebalance LLC acquired a new stake in Chevron in the fourth quarter valued at $26,000. Worth Asset Management LLC acquired a new stake in Chevron in the first quarter valued at $36,000. Red Tortoise LLC acquired a new stake in Chevron in the fourth quarter valued at $37,000. Western Pacific Wealth Management LP acquired a new stake in Chevron in the fourth quarter valued at $37,000. Finally, JDM Financial Group LLC acquired a new position in shares of Chevron during the 4th quarter worth $42,000. 69.65% of the stock is currently owned by hedge funds and other institutional investors.
Chevron Stock Up 0.9 %
CVX opened at $154.22 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.43 and a quick ratio of 1.16. The stock has a market capitalization of $292.19 billion, a price-to-earnings ratio of 8.33, a price-to-earnings-growth ratio of 0.78 and a beta of 1.16. The business has a 50-day moving average of $156.16 and a two-hundred day moving average of $164.53. Chevron Co. has a 12 month low of $132.54 and a 12 month high of $189.68.
Chevron (NYSE:CVX – Free Report) last posted its quarterly earnings results on Friday, April 28th. The oil and gas company reported $3.55 EPS for the quarter, beating the consensus estimate of $3.41 by $0.14. Chevron had a return on equity of 23.15% and a net margin of 14.74%. The company had revenue of $50.79 billion during the quarter, compared to analysts’ expectations of $49.49 billion. During the same quarter in the previous year, the business earned $3.36 EPS. The firm’s revenue was down 6.6% on a year-over-year basis. On average, research analysts expect that Chevron Co. will post 13.83 earnings per share for the current year.
Chevron Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date was Thursday, May 18th. Chevron’s payout ratio is currently 32.61%.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the company. HSBC raised Chevron from a “hold” rating to a “buy” rating and set a $189.00 price target for the company in a research note on Tuesday, May 23rd. Piper Sandler cut their price target on Chevron from $196.00 to $188.00 in a research note on Tuesday, June 13th. Morgan Stanley lifted their price target on Chevron from $192.00 to $198.00 in a research note on Tuesday, May 23rd. UBS Group assumed coverage on Chevron in a research note on Wednesday, April 19th. They set a “buy” rating and a $212.00 price target for the company. Finally, Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $195.00 to $200.00 in a research note on Thursday, April 13th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $191.68.
Chevron 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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.
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