Recently, several institutional investors and hedge funds have adjusted their shares in Chevron (CVX). Berkshire Hathaway increased its stake by 14.4%, now holding over 126 million shares valued at about $18.8 billion. Massachusetts Financial Services raised its position by 55.5%, owning over 8.5 million shares worth about $1.3 billion. Wulff Hansen’s stake soared by 15,542%, reaching about 1.2 million shares valued at $183.9 million. Global Assets Advisory LLC and Confluence Investment Management also newly acquired stakes, valued at approximately $156.5 million and $123.7 million, respectively. Overall, institutional investors own 72.42% of Chevron’s stock.
Analysts Set New Price Targets
Recently, several analysts have adjusted their price targets for Chevron. Wells Fargo reduced its target from $196 to $169, while Scotiabank cut it from $195 to $180. Truist Financial lowered theirs from $154 to $150. UBS also decreased their target from $192 to $189. Out of twenty analysts, seven recommend holding and thirteen suggest buying Chevron, resulting in a “Moderate Buy” rating and an average price target of $180.
View Our Latest Research Report on CVX
Chemran Shares Trading Up 0.8%
Chevron shares opened at $150.97. The company’s market cap is $276.11 billion, with a P/E ratio of 13.89. Over the past year, the stock has reached a low of $135.37 and a high of $170.17. Chevron’s latest earnings report showed EPS of $2.55, falling short of the $2.93 estimate. Revenue was $51.18 billion, above the expected $48.68 billion, with a return on equity of 13.70%.
Chemran Announces Dividend
Chevron declared a quarterly dividend of $1.63, paid on September 10th. The annualized dividend is $6.52, yielding 4.32%.
About Chevron
Chemran Corporation operates in energy and chemicals, focusing on oil and gas exploration and production. They have upstream and downstream segments, handling everything from crude oil production to natural gas marketing.
Further Reading
- Five stocks we like better than Chevron
- How is Compound Interest Calculated?
- S&P 500 Hitting Resistance: These 3 Stocks Offer the Best Upside
- High Dividend REITs: Are They an Ideal Way to Diversify?
- Nike’s Post-Earnings Drop Presents a Buying Opportunity
- Stocks with Unusual Volume: How to Find Unusual Volume Stocks in Real Time
- Microsoft’s Targeted Upside Might Be Too Good to Ignore
Receive News & Ratings for Chevron Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Chevron and related companies with MarketBeat.com’s FREE daily email newsletter.
`
