Absher Wealth Management LLC Has $26.24 Million Stock Holdings in Chevron Corporation (NYSE:CVX)

Absher Wealth Management LLC boosted its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 156,841 shares of the oil and gas company's stock after acquiring an additional 2,853 shares during the quarter. Chevron makes up approximately 3.4% of Absher Wealth Management LLC's portfolio, making the stock its 12th largest holding. Absher Wealth Management LLC's holdings in Chevron were worth $26,238,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. IMG Wealth Management Inc. bought a new position in shares of Chevron in the fourth quarter valued at approximately $25,000. Life Planning Partners Inc bought a new position in shares of Chevron in the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron in the fourth quarter valued at approximately $29,000. 10Elms LLP bought a new position in shares of Chevron in the fourth quarter valued at approximately $29,000. Finally, Fairway Wealth LLC raised its position in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 88 shares during the period. Institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

CVX traded up $1.17 during trading on Friday, reaching $149.36. 23,672,194 shares of the company's stock were exchanged, compared to its average volume of 8,231,243. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The business has a 50 day moving average price of $139.37 and a 200 day moving average price of $148.58. The company has a market capitalization of $260.84 billion, a P/E ratio of 17.07, a PEG ratio of 2.63 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter in the previous year, the company earned $2.93 earnings per share. The business's revenue was down 2.3% compared to the same quarter last year. As a group, analysts predict 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 was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.58%. Chevron's dividend payout ratio is currently 78.17%.

Analysts Set New Price Targets

CVX has been the topic of a number of recent analyst reports. Barclays lowered shares of Chevron from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. TD Cowen dropped their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and dropped their price target for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. UBS Group dropped their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Finally, Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $160.24.

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.