Chevron Co. (NYSE:CVX), a renowned oil and gas company, recently witnessed an increase in its holdings by 36.2%. This rise was reported by &Jmac Enterprises LLC in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired an additional 2,331 shares during the second quarter, bringing their total ownership to 8,773 shares. As of the latest SEC filing, these shares were valued at $1,380,000.
In addition to this development, Chevron also announced that it had paid a quarterly dividend on Monday, September 11th. Shareholders who were recorded as of Friday, August 18th received a dividend of $1.51 per share. This translates to an annualized dividend of $6.04 and a dividend yield of 3.58%. It is worth noting that the ex-dividend date for this dividend was Thursday, August 17th. Reliable sources tell us that Chevron’s payout ratio currently stands at 38.30%.
This increase in holdings and the payment of dividends reflect Jmac Enterprises LLC’s confidence in Chevron’s performance and potential for growth in the future. These actions also indicate that investors are attracted to Chevron’s stable position within the oil and gas industry.
Chevron is known for its extensive operations across various regions globally and its commitment to providing reliable energy solutions while minimizing environmental impact. The company has consistently worked towards achieving sustainable growth and maintaining strong financial performance.
As an institutional investor acquiring more shares in Chevron, Jmac Enterprises LLC recognizes the value that this oil and gas giant brings to their portfolio. By keeping up with emerging market trends and making informed investment decisions, Jmac Enterprises LLC strategically positions itself for long-term success.
It remains essential for investors to conduct thorough research before making any investment decisions or altering their portfolios based on such filings or dividend announcements. While these developments may signify a positive outlook for Chevron, market conditions and other external factors can always impact a company’s performance.
In conclusion, &Jmac Enterprises LLC’s recent increase in holdings of Chevron Co. (NYSE:CVX) demonstrates their confidence in the oil and gas company’s potential for growth. The payment of dividends further reinforces Chevron’s commitment to providing value to its shareholders. As investors continue to navigate the ever-changing financial landscape, it is crucial to approach investment decisions with caution and conduct thorough analysis before making any significant moves.
Atmos Energy Corporation
ATO
Strong Buy
Updated on: 05/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Institutional Investors and Analysts Buzz as Chevron Shows Promising Trajectory
October 2, 2023 – &Other institutional investors have recently made significant moves with shares of Chevron (NYSE:CVX), leaving many perplexed and curious about the company’s trajectory. Rebalance LLC acquired a new stake in Chevron during the fourth quarter of last year, amounting to $26,000. NewSquare Capital LLC also increased its position in Chevron by 52.3% during the first quarter, owning 195 shares now valued at $32,000 after purchasing an additional 67 shares. Adding to the intrigue, Artemis Wealth Advisors LLC bought a new stake in Chevron worth $33,000 during the first quarter as well. Worth Asset Management LLC followed suit with a new stake purchase worth $36,000 in the first quarter. HBC Financial Services PLLC was not far behind either; they completed their own new position acquisition in Chevron that same quarter for $37,000. Altogether, institutional investors and hedge funds currently hold approximately 68.87% of the company’s stock.
The recent activities of these institutional investors have sparked some interest within financial circles. Many brokerages have commented on CVX’s performance and potential prospects in light of these developments. Piper Sandler decreased their target price for Chevron from $196.00 to $188.00 in a report released on June 13th while Mizuho increased their price objective from $209.00 to $215.00 and maintained a “buy” rating for the company on September 18th.
Meanwhile, Morgan Stanley raised its target price from $197.00 to $198.00 but gave it an “equal weight” rating on August 18th as UBS Group announced an increase in their price target for Chevron from $202.00 to $209.00 while also maintaining a “buy” rating on August 17th.
The Goldman Sachs Group went so far as to upgrade Chevron from a “neutral” rating to a “buy” rating and increased its price objective for the stock from $166.00 to $187.00 on July 31st. These different perspectives have resulted in a consensus rating of “Moderate Buy” and an average target price of $190.56, according to data from Bloomberg.com.
On Monday, CVX opened at $168.62 with a fifty-day moving average price of $163.17 and a 200-day moving average price of $160.61, further fueling speculation about the company’s future performance. With a market capitalization of $314.85 billion, a P/E ratio of 10.69, a price-to-earnings-growth ratio of 0.87, and a beta of 1.14, Chevron’s financial situation seems robust.
Furthermore, Chevron boasts strong balance sheet fundamentals with a debt-to-equity ratio of 0.13, current ratio of 1.43, and quick ratio of 1.13.
Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, July 28th to much applause from analysts who had anticipated an EPS figure of $2.95; instead, Chevron reported an impressive $3.08 EPS for the quarter – exceeding expectations by $0.13. Accompanied by a net margin of 13.54% and return on equity standing at 19.48%, it is clear why the company has been capturing investors’ attention lately.
The firm recorded revenue of $48.90 billion during the quarter against analyst estimates of $48 billion – reflecting only a slight decrease compared to the same period in the previous year when they earned an astounding $5.82 per share.
These figures signify growth potential for Chevron despite experiencing a decline in revenue year-over-year amounting to 28.9%. Equities research analysts are anticipating that Chevron Co.’s fiscal year earnings per share will reach an impressive 13.53.
As investors navigate the ongoing transformation of the energy sector, Chevron’s recent activities and performance have generated considerable interest. The company’s opportunities in renewable and sustainable energy resources, alongside its robust financials, continue to captivate both institutional investors and analysts alike. Whether Chevron can sustain this momentum is a question yet to be answered.
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