Challenger Wealth Management Acquires Shares of 19,570 Chevron Co. (NYSE:CVX)

Challenger Wealth Management bought a new position in Chevron Co. (NYSE:CVX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 19,570 shares of the oil and gas company's stock, valued at approximately $2,834,000. Chevron accounts for about 2.4% of Challenger Wealth Management's investment portfolio, making the stock its 10th largest position.

Other large investors have also added to or reduced their stakes in the company. Life Planning Partners Inc bought a new stake in Chevron in the 4th quarter worth approximately $25,000. IMG Wealth Management Inc. bought a new stake in Chevron in the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron in the 4th quarter worth approximately $29,000. 10Elms LLP bought a new stake in shares of Chevron during the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC grew its position in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after acquiring an additional 88 shares during the period. Institutional investors own 72.42% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wells Fargo & Company reduced their price objective on Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Royal Bank of Canada restated an "outperform" rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Barclays lowered Chevron from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Redburn Atlantic restated a "sell" rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Finally, UBS Group reduced their price objective on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $160.24.

Chevron Price Performance

Chevron stock traded down $1.78 during mid-day trading on Wednesday, hitting $136.05. The stock had a trading volume of 6,858,338 shares, compared to its average volume of 8,077,874. The firm has a market capitalization of $237.60 billion, a P/E ratio of 14.00, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm's 50 day moving average is $143.58 and its 200 day moving average is $150.94. Chevron Co. has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter in the prior year, the firm earned $2.93 EPS. The business's revenue was down 2.3% on a year-over-year basis. On average, sell-side analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 5.03%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's dividend payout ratio (DPR) is presently 78.17%.

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.