Murphy Pohlad Asset Management LLC Purchases 120 Shares of Chevron Co. (NYSE:CVX)

Murphy Pohlad Asset Management LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 0.5% in the 1st quarter, Holdings Channel reports. The fund owned 25,579 shares of the oil and gas company’s stock after buying an additional 120 shares during the quarter. Chevron accounts for approximately 1.8% of Murphy Pohlad Asset Management LLC’s holdings, making the stock its 14th largest position. Murphy Pohlad Asset Management LLC’s holdings in Chevron were worth $4,279,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in Chevron by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock worth $5,247,142,000 after purchasing an additional 392,916 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Chevron by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock valued at $4,613,960,000 after buying an additional 746,806 shares in the last quarter. Norges Bank bought a new position in Chevron in the 4th quarter worth approximately $3,017,750,000. Northern Trust Corp grew its stake in Chevron by 7.3% in the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock valued at $2,965,135,000 after buying an additional 1,394,091 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Chevron by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock valued at $2,881,280,000 after acquiring an additional 410,460 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of analyst reports. BNP Paribas lowered Chevron to a “cautious” rating in a report on Tuesday, April 15th. Barclays cut Chevron from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. HSBC lowered Chevron from a “buy” rating to a “hold” rating and reduced their target price for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Piper Sandler lowered their price target on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Finally, TD Cowen cut their price objective on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Chevron presently has an average rating of “Hold” and a consensus target price of $160.24.

Chevron Price Performance

Shares of NYSE:CVX opened at $145.74 on Monday. The company’s fifty day moving average price is $138.53 and its 200-day moving average price is $149.02. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market capitalization of $254.52 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last announced its 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. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same period in the previous year, the business earned $2.93 earnings per share. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.69%. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

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.