4,117 Shares in Chevron Corporation $CVX Purchased by Strategies Wealth Advisors LLC

Key Points

• Strategies Wealth Advisors LLC has acquired 4,117 shares of Chevron Corporation, valued at approximately $689,000, during the first quarter.
• Chevron's recent quarterly earnings exceeded analysts' expectations, reporting $1.77 EPS against a consensus estimate of $1.58, along with quarterly revenues of $44.82 billion.
• The company announced a quarterly dividend of $1.71 per share, providing an annual yield of 4.4%, with a dividend payout ratio of 88.03%.

Strategies Wealth Advisors LLC bought a new stake in shares of Chevron Corporation (NYSE:CVX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,117 shares of the oil and gas company's stock, valued at approximately $689,000.

Other hedge funds have also recently modified their holdings of the company. Sage Capital Advisors llc increased its holdings in shares of Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after acquiring an additional 919 shares during the period. CCG Wealth Management LLC grew its stake in Chevron by 2.3% in the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after purchasing an additional 145 shares during the last quarter. Ignite Planners LLC raised its holdings in Chevron by 14.1% in the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock worth $2,060,000 after purchasing an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. raised its holdings in Chevron by 9.1% in the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock worth $993,000 after purchasing an additional 495 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of Chevron by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock valued at $24,075,000 after buying an additional 675 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Up 1.3%

CVX opened at $155.1660 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $150.97 and a 200 day moving average price of $148.63. The company has a market cap of $268.13 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 2.27 and a beta of 0.87. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the prior year, the firm earned $2.55 EPS. Chevron's quarterly revenue was down 12.4% on a year-over-year basis. Sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid a dividend of $1.71 per share. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. Chevron's dividend payout ratio is 88.03%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CVX. Piper Sandler lifted their price objective on shares of Chevron from $164.00 to $168.00 and gave the stock an "overweight" rating in a research report on Monday. Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Barclays reissued an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Melius Research started coverage on Chevron in a research report on Wednesday. They set a "hold" rating and a $155.00 target price on the stock. Finally, Scotiabank reiterated a "sector perform" rating and issued a $160.00 price target (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Chevron has a consensus rating of "Hold" and an average target price of $163.95.

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.

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