Murphy Pohlad Asset Management LLC Purchases 120 Shares of Chevron Co. (NYSE:CVX)

Murphy Pohlad Asset Management LLC raised its position in shares of Chevron Co. (NYSE:CVX) by 0.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,579 shares of the oil and gas company’s stock after acquiring an additional 120 shares during the quarter. Chevron comprises 1.8% of Murphy Pohlad Asset Management LLC’s investment portfolio, making the stock its 14th biggest holding. Murphy Pohlad Asset Management LLC’s holdings in Chevron were worth $4,279,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. IMG Wealth Management Inc. bought a new stake in Chevron in the fourth quarter worth approximately $25,000. Life Planning Partners Inc bought a new stake in shares of Chevron in the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Chevron during the 4th quarter valued at $29,000. 10Elms LLP bought a new position in Chevron during the fourth quarter worth $29,000. Finally, Fairway Wealth LLC grew its holdings in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 88 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.5%

Shares of CVX stock opened at $145.74 on Monday. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a 50-day simple moving average of $138.53 and a two-hundred day simple moving average of $149.02. 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 company has a market capitalization of $254.52 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $2.93 earnings per share. Research analysts anticipate 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 was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CVX shares. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and cut their price objective for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Hsbc Global Res cut Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Wells Fargo & Company decreased their price objective on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a report on Monday, May 5th. TD Cowen cut their target price on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, May 5th. Finally, Piper Sandler decreased their price target on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.