Mcrae Capital Management Inc. Decreases Stock Holdings in Chevron Co. (NYSE:CVX)

Mcrae Capital Management Inc. trimmed its position in shares of Chevron Co. (NYSE:CVXFree Report) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,343 shares of the oil and gas company’s stock after selling 80 shares during the quarter. Mcrae Capital Management Inc.’s holdings in Chevron were worth $648,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Picton Mahoney Asset Management purchased a new position in shares of Chevron in the 3rd quarter valued at approximately $26,000. Valley Forge Investment Consultants Inc. ADV raised its position in shares of Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the last quarter. Valued Wealth Advisors LLC purchased a new position in shares of Chevron in the 4th quarter valued at approximately $33,000. DHJJ Financial Advisors Ltd. purchased a new position in shares of Chevron in the 3rd quarter valued at approximately $35,000. Finally, Worth Asset Management LLC purchased a new position in shares of Chevron in the 1st quarter valued at approximately $36,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on CVX shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday. Piper Sandler reduced their price target on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Royal Bank of Canada raised their price target on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research report on Monday, January 8th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.39.

View Our Latest Stock Report on Chevron

Chevron Price Performance

Chevron stock opened at $159.82 on Wednesday. The company’s fifty day moving average price is $152.56 and its 200 day moving average price is $152.41. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $172.88. The stock has a market capitalization of $296.83 billion, a P/E ratio of 14.07, a P/E/G ratio of 2.42 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVXGet Free Report) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. During the same quarter last year, the company earned $4.09 EPS. The firm’s revenue for the quarter was down 16.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron Co. will post 13.13 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.08%. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio (DPR) is currently 57.39%.

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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