Banco de Sabadell S.A reduced its holdings in Chevron Co. (NYSE:CVX) by 8.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,899 shares of the oil and gas company’s stock after selling 5,043 shares during the quarter. Banco de Sabadell S.A’s holdings in Chevron were worth $3,943,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CVX. Schulhoff & Co. Inc. grew its holdings in Chevron by 0.4% in the fourth quarter. Schulhoff & Co. Inc. now owns 38,839 shares of the oil and gas company’s stock valued at $4,680,000 after purchasing an additional 154 shares during the period. Voit & Company LLC boosted its holdings in shares of Chevron by 17.7% in the 4th quarter. Voit & Company LLC now owns 23,029 shares of the oil and gas company’s stock valued at $2,775,000 after purchasing an additional 3,471 shares during the last quarter. Morse Asset Management Inc boosted its holdings in shares of Chevron by 2.1% in the 4th quarter. Morse Asset Management Inc now owns 29,377 shares of the oil and gas company’s stock valued at $3,540,000 after purchasing an additional 596 shares during the last quarter. Bernicke Wealth Management Ltd. grew its stake in shares of Chevron by 6.1% during the 4th quarter. Bernicke Wealth Management Ltd. now owns 9,048 shares of the oil and gas company’s stock valued at $1,090,000 after buying an additional 520 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in shares of Chevron by 6.7% during the 4th quarter. Quadrant Capital Group LLC now owns 18,522 shares of the oil and gas company’s stock worth $2,198,000 after buying an additional 1,159 shares during the last quarter. Hedge funds and other institutional investors own 64.86% of the company’s stock.
A number of brokerages recently weighed in on CVX. Wells Fargo & Co lifted their target price on Chevron from $107.00 to $111.00 and gave the company an “overweight” rating in a report on Monday, May 4th. UBS Group lowered Chevron from a “buy” rating to a “neutral” rating and set a $95.00 price objective on the stock. in a research note on Tuesday, May 12th. ValuEngine downgraded shares of Chevron from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Craig Hallum raised their price target on shares of Chevron from $81.00 to $100.00 and gave the company a “buy” rating in a report on Monday, May 4th. Finally, Independent Research downgraded shares of Chevron to a “hold” rating in a research note on Tuesday, April 14th. Seven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Chevron has a consensus rating of “Buy” and a consensus target price of $112.27.
Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $1.29. The company had revenue of $31.50 billion for the quarter, compared to the consensus estimate of $30.46 billion. Chevron had a return on equity of 8.28% and a net margin of 2.71%. Chevron’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.47 EPS. Analysts predict that Chevron Co. will post -0.03 earnings per share for the current fiscal 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 paid a $1.29 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 5.12%. 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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