Chevron Corporation (NYSE:CVX) is Carret Asset Management LLC’s 10th Largest Position

Carret Asset Management LLC decreased its holdings in Chevron Corporation (NYSE:CVX) by 0.2% in the first quarter, Holdings Channel.com reports. The firm owned 83,825 shares of the oil and gas company’s stock after selling 184 shares during the period. Chevron makes up approximately 1.6% of Carret Asset Management LLC’s investment portfolio, making the stock its 10th biggest position. Carret Asset Management LLC’s holdings in Chevron were worth $14,023,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. IMG Wealth Management Inc. purchased 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 in the 4th quarter valued at $29,000. 10Elms LLP purchased a new stake in shares of Chevron in the 4th quarter valued at $29,000. Fairway Wealth LLC boosted its stake in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares in the last quarter. Finally, IFS Advisors LLC boosted its position in Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 116 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.8%

NYSE:CVX opened at $149.36 on Friday. The company has a 50-day moving average price of $139.37 and a 200-day moving average price of $148.72. Chevron Corporation has a 12 month low of $132.04 and a 12 month 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 $260.84 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 2.60 and a beta of 0.83.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion during 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%. Chevron’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the business earned $2.93 EPS. Equities analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.58%. Chevron’s payout ratio is 78.17%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. BNP Paribas cut shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Piper Sandler dropped their price target on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. Redburn Atlantic reissued a “sell” rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Barclays cut shares of Chevron from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Finally, DZ Bank cut shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a research report on Tuesday, May 6th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Hold” and a consensus target price of $160.24.

Chevron Company Profile

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.