Modus Advisors LLC purchased a new position in shares of Chevron Co. (NYSE:CVX) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,234 shares of the oil and gas company’s stock, valued at approximately $234,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Johnson Midwest Financial LLC purchased a new position in shares of Chevron during the 4th quarter worth $27,000. Joseph P. Lucia & Associates LLC purchased a new position in shares of Chevron during the 4th quarter worth $28,000. Alpha DNA Investment Management LLC purchased a new position in shares of Chevron during the 4th quarter worth $31,000. BNC Wealth Management LLC purchased a new position in shares of Chevron during the 3rd quarter worth $33,000. Finally, Kathmere Capital Management LLC purchased a new position in shares of Chevron during the 3rd quarter worth $33,000. Institutional investors and hedge funds own 62.27% of the company’s stock.
Several analysts recently issued reports on the stock. Jefferies Financial Group lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $98.00 price objective on the stock. in a report on Thursday, January 21st. Credit Suisse Group boosted their price objective on shares of Chevron from $115.00 to $126.00 and gave the company an “outperform” rating in a report on Monday, March 15th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $124.00 price objective on the stock in a report on Wednesday, March 17th. Piper Sandler boosted their price objective on shares of Chevron from $113.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, April 1st. Finally, Truist boosted their price objective on shares of Chevron from $105.00 to $130.00 in a report on Wednesday, March 10th. Eleven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Chevron currently has an average rating of “Buy” and a consensus price target of $110.75.
Shares of Chevron stock traded down $1.51 on Thursday, reaching $102.68. 108,947 shares of the company were exchanged, compared to its average volume of 11,355,726. Chevron Co. has a 1-year low of $65.16 and a 1-year high of $112.70. The company has a market cap of $197.80 billion, a P/E ratio of -16.97, a price-to-earnings-growth ratio of 5.74 and a beta of 1.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.26 and a quick ratio of 0.97. The stock’s 50 day moving average price is $104.34 and its 200-day moving average price is $88.55.
Chevron (NYSE:CVX) last announced its quarterly earnings data on Thursday, January 28th. The oil and gas company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.09). The company had revenue of $25.25 billion for the quarter, compared to analyst estimates of $25.97 billion. Chevron had a positive return on equity of 1.75% and a negative net margin of 10.86%. The business’s quarterly revenue was down 30.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.49 earnings per share. On average, research analysts predict that Chevron Co. will post 0.03 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 10th. Investors of record on Wednesday, February 17th were paid a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 5.03%. The ex-dividend date was Tuesday, February 16th. Chevron’s payout ratio is 82.30%.
Chevron Company Profile
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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