Joel Isaacson & Co. LLC Has $2.66 Million Stock Holdings in Chevron Corporation (NYSE:CVX)

by · The Cerbat Gem

Joel Isaacson & Co. LLC boosted its stake in Chevron Corporation (NYSE:CVX – Free Report) by 3.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,880 shares of the oil and gas company’s stock after purchasing an additional 469 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in Chevron were worth $2,657,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CVX. Norges Bank acquired a new stake in Chevron in the fourth quarter worth $3,017,750,000. Raymond James Financial Inc. acquired a new stake in Chevron in the fourth quarter worth $1,036,302,000. GAMMA Investing LLC grew its holdings in Chevron by 21,191.5% in the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock worth $904,746,000 after purchasing an additional 5,382,847 shares during the period. Amundi grew its holdings in Chevron by 27.7% in the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock worth $1,323,549,000 after purchasing an additional 1,910,262 shares during the period. Finally, Capital World Investors grew its holdings in Chevron by 11.4% in the fourth quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company’s stock worth $2,039,288,000 after purchasing an additional 1,440,808 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and reduced their price target for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Redburn Atlantic reaffirmed a “sell” rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Piper Sandler dropped their price objective on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Mizuho dropped their price objective on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Finally, UBS Group dropped their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $160.29.

Get Our Latest Analysis on CVX

Chevron Stock Down 0.4%

CVX opened at $143.87 on Friday. The firm has a market capitalization of $251.26 billion, a P/E ratio of 16.44, a PEG ratio of 2.52 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company’s 50-day moving average is $140.20 and its 200 day moving average is $148.22.

Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.93 earnings per share. Research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio is 78.17%.

About Chevron

(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.

Further Reading

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