DeDora Capital Inc. increased its position in shares of Chevron Co. (NYSE: CVX – Get Rating) by 114.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,585 shares of the oil and gas company stock after acquiring an additional 5,659 shares during the quarter. DeDora Capital Inc.’s holdings in Chevron were worth $ 1,724,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in CVX. Schonfeld Strategic Advisors LLC lifted its position in Chevron by 33.9% in the third quarter. Schonfeld Strategic Advisors LLC now owns 26,966 shares of the oil and gas company stock valued at $ 2,735,000 after buying an additional 6,830 shares during the last quarter. Studio Investment Management LLC acquired a new position in Chevron in the third quarter valued at about $ 1,680,000. Gyon Technologies Capital Management LP lifted its position in Chevron by 45.1% in the third quarter. Gyon Technologies Capital Management LP now owns 12,324 shares of the oil and gas company stock valued at $ 1,250,000 after buying an additional 3,833 shares during the last quarter. Wealthsource Partners LLC lifted its position in Chevron by 1.2% in the third quarter. Wealthsource Partners LLC now owns 28,096 shares of the oil and gas company stock valued at $ 2,850,000 after buying an additional 330 shares during the last quarter. Finally, Brick & Kyle Associates increased its stake in Chevron by 7.8% during the third quarter. Brick & Kyle Associates now owns 33,912 shares of the oil and gas company stock worth $ 3,476,000 after purchasing an additional 2,445 shares during the period. 65.89% of the stock is currently owned by hedge funds and other institutional investors.
In other Chevron news, VP Eimear P. Bonner sold 68,032 shares of the stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $ 165.00, for a total value of $ 11,225,280.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Enrique Hernandez, Jr. sold 5,805 shares of the stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $ 160.00, for a total value of $ 928,800.00. Following the completion of the transaction, the director now owns 22,978 shares of the company stock, valued at approximately $ 3,676,480. The disclosure for this sale can be found here. Insiders sold 561,726 shares of company stock valued at $ 94,057,396 in the last quarter. 0.32% of the stock is currently owned by company insiders.
CVX has been the topic of a number of recent research reports. Truist Financial cut their price target on shares of Chevron from $ 186.00 to $ 181.00 in a research note on Monday, May 2nd. Raymond James upped their target price on shares of Chevron from $ 173.00 to $ 191.00 and gave the stock an “outperform” rating in a research note on Monday, April 18th. Cowen upped their target price on shares of Chevron from $ 165.00 to $ 179.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 7th. Credit Suisse Group increased their price target on shares of Chevron from $ 190.00 to $ 202.00 and gave the company an “outperform” rating in a research note on Thursday, June 9th. Finally, Royal Bank of Canada lowered shares of Chevron from an “outperform” rating to a “sector perform” rating and increased their price target for the company from $ 160.00 to $ 165.00 in a research note on Thursday, April 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $ 169.57.
Shares of NYSE CVX opened at $ 147.57 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22. The stock has a fifty day moving average price of $ 165.76 and a 200 day moving average price of $ 150.47. Chevron Co. has a 1-year low of $ 92.86 and a 1-year high of $ 182.40. The company has a market cap of $ 289.95 billion, a PE ratio of 13.87, a P / E / G ratio of 0.63 and a beta of 1.09.
Chevron (NYSE: CVX – Get Rating) last issued its quarterly earnings results on Friday, April 29th. The oil and gas company reported $ 3.36 earnings per share for the quarter, missing the estimate consensus of $ 3.44 by ($ 0.08). Chevron had a return on equity of 14.66% and a net margin of 11.10%. The company had revenue of $ 54.37 billion for the quarter, compared to analyst estimates of $ 54.96 billion. During the same period in the prior year, the business earned $ 0.90 earnings per share. Chevron’s revenue for the quarter was up 69.8% compared to the same quarter last year. Analysts anticipate that Chevron Co. will post 17.5 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Thursday, May 19th were given a $ 1.42 dividend. This represents a $ 5.68 annualized dividend and a yield of 3.85%. The ex-dividend date was Wednesday, May 18th. Chevron’s payout ratio is 53.38%.
About Chevron: (Get Rating)
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 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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