Chevron Co. (NYSE:CVX) Stock Holdings Increased by Smith Anglin Financial LLC

Smith Anglin Financial LLC boosted its position in Chevron Co. (NYSE:CVX) by 5.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 7,152 shares of the oil and gas company’s stock after buying an additional 367 shares during the period. Smith Anglin Financial LLC’s holdings in Chevron were worth $1,197,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CVX. Life Planning Partners Inc acquired a new position in Chevron in the fourth quarter valued at approximately $25,000. IMG Wealth Management Inc. bought a new position in Chevron in the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron in the 4th quarter worth approximately $29,000. 10Elms LLP bought a new position in Chevron in the 4th quarter worth approximately $29,000. Finally, Fairway Wealth LLC grew its holdings in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after buying an additional 88 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CVX shares. Truist Financial decreased their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $160.00 to $143.00 in a report on Friday, April 11th. UBS Group decreased their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. Redburn Atlantic reissued a “sell” rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, Mizuho decreased their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $160.24.

Chevron Stock Performance

CVX opened at $137.80 on Tuesday. The company has a market capitalization of $240.64 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The business has a 50 day moving average price of $141.27 and a two-hundred day moving average price of $150.27.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.93 earnings per share. Research analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.96%. Chevron’s dividend payout ratio is currently 78.17%.

Chevron Company 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; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.