Mission Wealth Management LP Grows Position in Chevron Corporation (NYSE:CVX)

Mission Wealth Management LP grew its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 44.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,946 shares of the oil and gas company's stock after purchasing an additional 17,472 shares during the period. Mission Wealth Management LP's holdings in Chevron were worth $9,527,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CVX. IMG Wealth Management Inc. purchased a new position in Chevron during the fourth quarter valued at approximately $25,000. Life Planning Partners Inc bought a new position in shares of Chevron in the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Chevron in the fourth quarter worth $29,000. 10Elms LLP purchased a new stake in shares of Chevron in the fourth quarter worth $29,000. Finally, Fairway Wealth LLC boosted its stake in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after buying an additional 88 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on CVX. Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. TD Cowen dropped their target price on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a report on Tuesday, May 6th. Scotiabank downgraded shares of Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Finally, Mizuho reduced their target price on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Three 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $160.24.

Chevron Trading Down 0.4%

Shares of Chevron stock traded down $0.67 during trading on Thursday, reaching $148.18. 9,824,086 shares of the stock were exchanged, compared to its average volume of 8,222,007. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a market cap of $258.78 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 2.61 and a beta of 0.83. 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 stock's fifty day moving average is $138.82 and its 200 day moving average is $148.90.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the company earned $2.93 EPS. As a group, equities research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date was Monday, May 19th. Chevron's payout ratio is 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.