Invesco LLC Raises Holdings in Chevron Corporation (NYSE:CVX)

by · The Cerbat Gem

Invesco LLC raised its holdings in Chevron Corporation (NYSE:CVX – Free Report) by 5.9% during the first quarter, Holdings Channel.com reports. The firm owned 12,455 shares of the oil and gas company’s stock after purchasing an additional 689 shares during the period. Invesco LLC’s holdings in Chevron were worth $2,084,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. IMG Wealth Management Inc. purchased a new position in Chevron in the fourth quarter worth approximately $25,000. Life Planning Partners Inc acquired a new stake in shares of Chevron in the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Chevron during the 4th quarter worth $29,000. 10Elms LLP acquired a new position in shares of Chevron during the fourth quarter worth $29,000. Finally, Fairway Wealth LLC increased 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 valued at $30,000 after buying an additional 88 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock opened at $143.67 on Wednesday. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The stock has a market cap of $250.90 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 2.58 and a beta of 0.83. The company’s 50-day moving average price is $139.78 and its two-hundred day moving average price is $148.49.

Chevron (NYSE:CVX – Get Free Report) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (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 10.73% and a net margin of 7.76%. Chevron’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.93 earnings per share. As a group, sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date was Monday, May 19th. Chevron’s payout ratio is presently 78.17%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CVX. TD Cowen decreased their price target on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. Redburn Atlantic reaffirmed a “sell” rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. 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 report on Tuesday, May 13th. Hsbc Global Res cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Finally, Wells Fargo & Company cut their price target on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $160.24.

View Our Latest Research Report on Chevron

Chevron Company Profile

(Free Report)

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.

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