Spearhead Capital Advisors LLC boosted its position in shares of Chevron Co. (NYSE:CVX) by 17.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,872 shares of the oil and gas company’s stock after purchasing an additional 12,171 shares during the period. Chevron makes up 1.3% of Spearhead Capital Advisors LLC’s portfolio, making the stock its 26th biggest position. Spearhead Capital Advisors LLC’s holdings in Chevron were worth $8,789,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Crossvault Capital Management LLC grew its holdings in Chevron by 10.5% during the 1st quarter. Crossvault Capital Management LLC now owns 25,837 shares of the oil and gas company’s stock valued at $2,707,000 after purchasing an additional 2,450 shares in the last quarter. Raab & Moskowitz Asset Management LLC boosted its stake in Chevron by 1.6% during the 1st quarter. Raab & Moskowitz Asset Management LLC now owns 14,362 shares of the oil and gas company’s stock valued at $1,505,000 after acquiring an additional 220 shares during the last quarter. Park Avenue Securities LLC boosted its stake in Chevron by 71.3% during the 1st quarter. Park Avenue Securities LLC now owns 47,583 shares of the oil and gas company’s stock valued at $4,986,000 after acquiring an additional 19,808 shares during the last quarter. JJJ Advisors Inc. boosted its stake in Chevron by 36.4% during the 1st quarter. JJJ Advisors Inc. now owns 1,004 shares of the oil and gas company’s stock valued at $105,000 after acquiring an additional 268 shares during the last quarter. Finally, New England Investment & Retirement Group Inc. boosted its stake in Chevron by 69.2% during the 1st quarter. New England Investment & Retirement Group Inc. now owns 6,387 shares of the oil and gas company’s stock valued at $669,000 after acquiring an additional 2,612 shares during the last quarter. 62.27% of the stock is owned by institutional investors and hedge funds.
Chevron stock traded down $0.22 on Tuesday, hitting $105.31. The company’s stock had a trading volume of 209,251 shares, compared to its average volume of 10,701,234. The firm has a market cap of $203.04 billion, a P/E ratio of -17.27, a price-to-earnings-growth ratio of 5.74 and a beta of 1.33. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.26. The company has a fifty day moving average price of $104.24 and a 200-day moving average price of $92.40. Chevron Co. has a one year low of $65.16 and a one year high of $112.70.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 10th. Stockholders of record on Wednesday, May 19th will be paid a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 5.09%. The ex-dividend date is Tuesday, May 18th. This is an increase from Chevron’s previous quarterly dividend of $1.29. Chevron’s payout ratio is currently 82.30%.
A number of research analysts have recently issued reports on the stock. Scotiabank restated a “sector perform” rating and issued a $115.00 price target on shares of Chevron in a research report on Tuesday, March 16th. Citigroup started coverage on shares of Chevron in a research report on Wednesday, March 10th. They issued a “neutral” rating and a $105.00 price objective on the stock. Credit Suisse Group lifted their price objective on shares of Chevron from $115.00 to $126.00 and gave the company an “outperform” rating in a research report on Monday, March 15th. Piper Sandler lifted their price objective on shares of Chevron from $113.00 to $126.00 and gave the company an “overweight” rating in a research report on Thursday, April 1st. Finally, Raymond James lowered their target price on shares of Chevron from $122.00 to $120.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 20th. Ten analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Chevron currently has an average rating of “Buy” and an average price target of $110.68.
Chevron Company Profile
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production 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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