Chevron Co. (NYSE:CVX) Position Raised by Regent Investment Management LLC

Regent Investment Management LLC raised its stake in Chevron Co. (NYSE:CVX) by 1.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 17,587 shares of the oil and gas company’s stock after buying an additional 181 shares during the quarter. Regent Investment Management LLC’s holdings in Chevron were worth $1,843,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CVX. Proquility Private Wealth Partners LLC bought a new stake in shares of Chevron during the fourth quarter valued at about $524,000. Onyx Bridge Wealth Group LLC bought a new stake in shares of Chevron during the fourth quarter valued at about $793,000. Lord Abbett & CO. LLC raised its stake in shares of Chevron by 1.8% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,833,303 shares of the oil and gas company’s stock valued at $154,822,000 after purchasing an additional 32,797 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Chevron during the fourth quarter valued at about $5,164,000. Finally, Lumature Wealth Partners LLC bought a new stake in shares of Chevron during the fourth quarter valued at about $292,000. Institutional investors own 62.27% of the company’s stock.

NYSE:CVX traded down $1.21 during trading hours on Thursday, reaching $101.52. The company had a trading volume of 144,292 shares, compared to its average volume of 10,916,603. The stock has a 50-day moving average of $105.62 and a two-hundred day moving average of $90.63. Chevron Co. has a one year low of $65.16 and a one year high of $112.70. The firm has a market capitalization of $195.74 billion, a PE ratio of -16.73, a PEG 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.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Thursday, January 28th. The oil and gas company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.09). Chevron had a negative net margin of 10.86% and a positive return on equity of 1.75%. The company had revenue of $25.25 billion during the quarter, compared to the consensus estimate of $25.97 billion. During the same quarter last year, the company earned $1.49 earnings per share. The business’s revenue was down 30.5% on a year-over-year basis. As a group, sell-side analysts expect that Chevron Co. will post 0.03 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 10th. Shareholders of record on Wednesday, February 17th were given a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend was Tuesday, February 16th. Chevron’s dividend payout ratio (DPR) is 82.30%.

A number of research analysts recently issued reports on CVX shares. Truist lifted their target price on Chevron from $105.00 to $130.00 in a report on Wednesday, March 10th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $113.00 target price (down previously from $117.00) on shares of Chevron in a research note on Tuesday, April 13th. Scotiabank reiterated a “sector perform” rating and set a $115.00 price target on shares of Chevron in a report on Tuesday, March 16th. Cowen lifted their price target on Chevron from $111.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, March 10th. Finally, Citigroup began coverage on Chevron in a report on Wednesday, March 10th. They set a “neutral” rating and a $105.00 price target for the company. Ten equities research 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’s stock. The stock has an average rating of “Buy” and a consensus price target of $110.68.

About Chevron

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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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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