JGP Wealth Management LLC Has $1.38 Million Position in Chevron Co. (NYSE:CVX)

JGP Wealth Management LLC boosted its stake in Chevron Co. (NYSE:CVX - Free Report) by 38.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,223 shares of the oil and gas company's stock after buying an additional 2,276 shares during the quarter. JGP Wealth Management LLC's holdings in Chevron were worth $1,376,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. IMG Wealth Management Inc. bought a new position in Chevron in the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron in the 4th quarter valued at $29,000. 10Elms LLP bought a new position in Chevron in the 4th quarter valued at $29,000. Fairway Wealth LLC raised its position in Chevron by 75.9% in the 4th 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 last quarter. Finally, Navigoe LLC bought a new position in Chevron in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Trading Up 0.8%

NYSE:CVX traded up $1.10 on Monday, reaching $137.80. The company's stock had a trading volume of 9,074,640 shares, compared to its average volume of 8,109,900. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market cap of $240.64 billion, a PE ratio of 14.18, a PEG ratio of 1.46 and a beta of 0.83. The business's 50-day moving average price is $141.88 and its two-hundred day moving average price is $150.44.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same period in the previous year, the firm earned $2.93 earnings per share. The company's revenue was down 2.3% on a year-over-year basis. Equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.96%. Chevron's payout ratio is 78.17%.

Analysts Set New Price Targets

Several equities analysts have issued reports on CVX shares. Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Piper Sandler dropped their target price on Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Scotiabank downgraded Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Wells Fargo & Company dropped their target price on Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Finally, Redburn Atlantic restated a "sell" rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average 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.