MADDEN SECURITIES Corp Has $5.62 Million Stock Position in Chevron Co. (NYSE:CVX)

MADDEN SECURITIES Corp decreased its stake in Chevron Co. (NYSE:CVX) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,576 shares of the oil and gas company’s stock after selling 1,135 shares during the period. Chevron makes up 2.2% of MADDEN SECURITIES Corp’s portfolio, making the stock its 13th largest holding. MADDEN SECURITIES Corp’s holdings in Chevron were worth $5,617,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Chevron during the 4th quarter valued at about $3,017,750,000. Raymond James Financial Inc. acquired a new stake in Chevron in the 4th quarter valued at $1,036,302,000. GAMMA Investing LLC boosted its stake in Chevron by 21,191.5% in the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock valued at $904,746,000 after buying an additional 5,382,847 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Chevron by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock valued at $2,389,380,000 after purchasing an additional 2,432,756 shares in the last quarter. Finally, Amundi boosted its position in Chevron by 27.7% in the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock valued at $1,323,549,000 after buying an additional 1,910,262 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 0.4%

CVX opened at $140.76 on Tuesday. The firm has a market cap of $245.82 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm’s fifty day moving average is $138.46 and its two-hundred day moving average is $149.50.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. Chevron’s revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.93 earnings per share. Equities research analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.86%. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Mizuho reduced their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company reduced their target price on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. HSBC downgraded Chevron from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Piper Sandler reduced their price objective on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Finally, TD Cowen cut their price target on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Three 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $160.24.

Chevron 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.