IHT Wealth Management LLC cut its holdings in Chevron Co. (NYSE:CVX) by 8.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,893 shares of the oil and gas company’s stock after selling 1,575 shares during the period. IHT Wealth Management LLC’s holdings in Chevron were worth $1,224,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Wealth Quarterback LLC bought a new stake in Chevron during the fourth quarter valued at about $16,676,410,000. Norges Bank purchased a new stake in Chevron during the 4th quarter valued at approximately $2,565,385,000. BlackRock Inc. increased its holdings in Chevron by 4.9% in the 1st quarter. BlackRock Inc. now owns 133,388,637 shares of the oil and gas company’s stock valued at $9,665,343,000 after acquiring an additional 6,208,177 shares during the last quarter. State Street Corp raised its holdings in shares of Chevron by 2.6% during the 1st quarter. State Street Corp now owns 117,055,351 shares of the oil and gas company’s stock worth $8,481,831,000 after acquiring an additional 2,914,316 shares in the last quarter. Finally, ACR Alpine Capital Research LLC purchased a new position in Chevron in the first quarter worth about $105,415,000. Institutional investors and hedge funds own 64.86% of the company’s stock.
A number of brokerages recently issued reports on CVX. Credit Suisse Group raised their price target on Chevron from $81.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Royal Bank of Canada lifted their target price on Chevron from $85.00 to $100.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 14th. Craig Hallum lifted their target price on Chevron from $81.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Mizuho decreased their price objective on Chevron from $140.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Finally, Cowen lowered their price target on Chevron from $134.00 to $127.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Seven analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $112.27.
Shares of NYSE:CVX traded up $1.36 during trading on Tuesday, hitting $94.15. 2,576,789 shares of the stock traded hands, compared to its average volume of 9,683,845. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average price of $89.34 and a two-hundred day moving average price of $101.02. Chevron Co. has a 52-week low of $51.60 and a 52-week high of $127.00. The company has a market cap of $176.69 billion, a price-to-earnings ratio of 46.17 and a beta of 1.30.
Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $1.29. The company had revenue of $31.50 billion for the quarter, compared to analyst estimates of $30.46 billion. Chevron had a net margin of 2.71% and a return on equity of 8.28%. The firm’s revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the business earned $1.47 earnings per share. On average, equities research analysts predict that Chevron Co. will post -0.03 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be given a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date of this dividend is Monday, May 18th. Chevron’s dividend payout ratio (DPR) is presently 82.30%.
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.
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