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1,851 Shares in Chevron Corporation (NYSE:CVX) Acquired by Caliber Wealth Management LLC KS

Chevron logo with Energy background

Key Points

  • Caliber Wealth Management LLC KS acquired 1,851 shares of Chevron, valued at approximately $310,000, indicating growing interest from institutional investors.
  • Research analysts have mixed ratings on Chevron, with UBS lowering their price target to $185.00 while Wells Fargo raised it to $178.00, resulting in an average rating of "Hold" for the stock.
  • Chevron announced a quarterly dividend of $1.71 per share, reflecting a strong dividend yield of 4.42% and a payout ratio of 78.17%.
  • Interested in Chevron? Here are five stocks we like better.

Caliber Wealth Management LLC KS bought a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,851 shares of the oil and gas company's stock, valued at approximately $310,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of Chevron by 1.1% during the 4th 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 in the last quarter. 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 worth $2,965,135,000 after acquiring an additional 1,394,091 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Chevron by 0.5% in the 4th quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company's stock valued at $2,502,850,000 after purchasing an additional 79,917 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Chevron by 1.3% in the 4th quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company's stock valued at $2,421,564,000 after purchasing an additional 211,023 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Chevron by 6.9% in the 4th quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company's stock valued at $2,176,579,000 after purchasing an additional 964,426 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of CVX stock traded down $1.94 during mid-day trading on Wednesday, reaching $155.10. The company's stock had a trading volume of 2,427,299 shares, compared to its average volume of 9,435,902. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a market cap of $270.86 billion, a P/E ratio of 17.73, a PEG ratio of 2.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The firm's 50-day moving average is $145.88 and its two-hundred day moving average is $148.89.

Chevron (NYSE:CVX - Get Free Report) 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 analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the company posted $2.93 EPS. On average, research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio (DPR) is currently 78.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CVX shares. Wells Fargo & Company lifted their price target on shares of Chevron from $165.00 to $178.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a report on Tuesday, May 6th. Barclays reiterated an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and cut their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Finally, Mizuho dropped their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $162.13.

Check Out Our Latest Stock Analysis on CVX

Chevron Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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