Chevron Corporation (NYSE:CVX) Shares Bought by Red Door Wealth Management LLC

Red Door Wealth Management LLC raised its position in Chevron Corporation (NYSE:CVX - Free Report) by 8.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,080 shares of the oil and gas company's stock after buying an additional 4,822 shares during the quarter. Chevron makes up approximately 1.5% of Red Door Wealth Management LLC's portfolio, making the stock its 18th biggest position. Red Door Wealth Management LLC's holdings in Chevron were worth $9,884,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CVX. IMG Wealth Management Inc. purchased a new position in shares of Chevron in the 4th quarter valued at approximately $25,000. Life Planning Partners Inc acquired a new position in shares of Chevron during the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Chevron in the 4th quarter valued at approximately $29,000. 10Elms LLP acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $29,000. Finally, Fairway Wealth LLC raised its position in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after acquiring an additional 88 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVX has been the topic of a number of research analyst reports. Wells Fargo & Company reissued an "overweight" rating and set a $165.00 price objective (up previously from $164.00) on shares of Chevron in a report on Thursday. TD Cowen decreased their price objective 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. Scotiabank downgraded shares of Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. Piper Sandler lowered their target price on Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Finally, Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $160.29.

Chevron Price Performance

Chevron stock opened at $143.87 on Monday. The company has a market cap of $251.26 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 2.52 and a beta of 0.83. The firm has a 50 day moving average price of $140.20 and a 200 day moving average price of $148.17. Chevron Corporation 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 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

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, topping analysts' consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period last year, the business posted $2.93 EPS. The company's quarterly revenue was down 2.3% compared to the same quarter last year. Sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio 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.

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