Toronto Dominion Bank decreased its position in Chevron Co. (NYSE:CVX) by 24.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,024,150 shares of the oil and gas company’s stock after selling 324,386 shares during the quarter. Toronto Dominion Bank owned 0.05% of Chevron worth $74,220,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Sailer Financial LLC acquired a new position in Chevron during the 4th quarter worth approximately $25,000. Filbrandt Wealth Management LLC acquired a new stake in shares of Chevron in the fourth quarter valued at about $25,000. CBIZ Investment Advisory Services LLC acquired a new stake in shares of Chevron in the fourth quarter valued at about $33,000. Corbenic Partners LLC boosted its holdings in Chevron by 276.0% during the first quarter. Corbenic Partners LLC now owns 361 shares of the oil and gas company’s stock worth $26,000 after buying an additional 265 shares in the last quarter. Finally, Advocacy Wealth Management Services LLC grew its position in Chevron by 84.2% during the first quarter. Advocacy Wealth Management Services LLC now owns 396 shares of the oil and gas company’s stock worth $27,000 after buying an additional 181 shares during the period. 64.86% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on CVX shares. Jefferies Financial Group reissued a “buy” rating and set a $92.00 price target on shares of Chevron in a research note on Friday, May 1st. Citigroup decreased their target price on Chevron from $120.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 4th. Bank of America upped their target price on Chevron from $75.00 to $90.00 and gave the company a “buy” rating in a report on Monday, April 20th. ValuEngine downgraded Chevron from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Finally, Craig Hallum increased their price objective on shares of Chevron from $81.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Seven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Chevron presently has a consensus rating of “Buy” and an average target price of $112.27.
Chevron (NYSE:CVX) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $1.29. The business had revenue of $31.50 billion for the quarter, compared to analyst estimates of $30.46 billion. Chevron had a return on equity of 8.28% and a net margin of 2.71%. During the same period in the previous year, the company earned $1.47 earnings per share. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. Equities analysts expect that Chevron Co. will post -0.03 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be issued a $1.29 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $5.16 annualized dividend and a yield of 5.50%. Chevron’s dividend payout ratio 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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