MADDEN SECURITIES Corp Has $5.62 Million Stock Holdings in Chevron Co. (NYSE:CVX)

MADDEN SECURITIES Corp lessened its position in Chevron Co. (NYSE:CVX) by 3.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,576 shares of the oil and gas company’s stock after selling 1,135 shares during the quarter. Chevron makes up about 2.2% of MADDEN SECURITIES Corp’s portfolio, making the stock its 13th biggest position. MADDEN SECURITIES Corp’s holdings in Chevron were worth $5,617,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. TFB Advisors LLC increased its position in shares of Chevron by 2.4% in the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock valued at $411,000 after acquiring an additional 66 shares during the last quarter. W.H. Cornerstone Investments Inc. increased its holdings in Chevron by 1.4% during the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock worth $677,000 after buying an additional 66 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in Chevron by 0.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock worth $2,207,000 after buying an additional 66 shares during the last quarter. Berkeley Capital Partners LLC increased its holdings in Chevron by 0.4% during the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock worth $2,572,000 after buying an additional 67 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC increased its stake in shares of Chevron by 6.1% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company’s stock worth $171,000 after purchasing an additional 68 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CVX shares. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $160.00 to $143.00 in a report on Friday, April 11th. HSBC lowered Chevron from a “buy” rating to a “hold” rating and decreased their target price for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. TD Cowen decreased their target price on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, May 5th. Wells Fargo & Company decreased their price objective on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Finally, UBS Group decreased their price target 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 research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $160.24.

Chevron Trading Up 0.4%

CVX opened at $140.76 on Tuesday. The company’s 50 day moving average is $138.46 and its 200-day moving average is $149.50. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market cap of $245.82 billion, a P/E ratio of 14.48, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter last year, the business posted $2.93 EPS. Chevron’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date is Monday, May 19th. Chevron’s payout ratio is 78.17%.

About Chevron

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.