Ameriflex Group Inc. Takes Position in Chevron Co. (NYSE:CVX)

Ameriflex Group Inc. bought a new stake in Chevron Co. (NYSE:CVX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,937 shares of the oil and gas company's stock, valued at approximately $1,632,000. Chevron makes up 0.7% of Ameriflex Group Inc.'s holdings, making the stock its 26th largest position.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CVX shares. Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and cut their price target for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Barclays lowered shares of Chevron from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Piper Sandler lowered their target price on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. TD Cowen lowered their target price on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Finally, DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a research note on Tuesday, May 6th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Chevron presently has a consensus rating of "Hold" and a consensus target price of $160.24.

Chevron Stock Down 1.3%

CVX traded down $1.78 during midday trading on Wednesday, hitting $136.05. The company had a trading volume of 6,858,338 shares, compared to its average volume of 8,077,876. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $237.60 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 1.46 and a beta of 0.83. The stock's 50 day moving average price is $143.58 and its 200 day moving average price is $150.94.

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, beating the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business's revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.93 earnings per share. On average, research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 5.03%. Chevron's dividend payout ratio is currently 78.17%.

Chevron 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.