Chung Wu Investment Group LLC Purchases New Position in Chevron Corporation (NYSE:CVX)

Chung Wu Investment Group LLC purchased a new stake in shares of Chevron Corporation (NYSE:CVX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,900 shares of the oil and gas company's stock, valued at approximately $485,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust lifted its holdings in Chevron by 0.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock valued at $2,207,000 after purchasing an additional 66 shares during the last quarter. Berkeley Capital Partners LLC lifted its holdings in Chevron by 0.4% during the 4th quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock valued at $2,572,000 after purchasing an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in Chevron by 6.1% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company's stock valued at $171,000 after purchasing an additional 68 shares during the last quarter. CoreCap Advisors LLC lifted its holdings in Chevron by 0.3% during the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock valued at $4,091,000 after purchasing an additional 71 shares during the last quarter. Finally, Fairscale Capital LLC lifted its holdings in Chevron by 11.5% during the 4th quarter. Fairscale Capital LLC now owns 706 shares of the oil and gas company's stock valued at $102,000 after purchasing an additional 73 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CVX shares. UBS Group cut their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. TD Cowen lowered their price objective 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. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Wells Fargo & Company restated an "overweight" rating and issued a $165.00 price objective (up previously from $164.00) on shares of Chevron in a research report on Thursday. Finally, Barclays cut shares of Chevron from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $160.29.

Chevron Stock Up 0.8%

Shares of NYSE:CVX opened at $144.40 on Friday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a 50 day moving average of $140.08 and a 200-day moving average of $148.37. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The stock has a market cap of $252.18 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 2.51 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same quarter in the previous year, the company earned $2.93 EPS. Chevron's revenue was down 2.3% on a year-over-year basis. On average, sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.74%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio is 78.17%.

About Chevron

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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