Cohen Investment Advisors LLC Increases Stake in Chevron Corporation (NYSE:CVX)

Cohen Investment Advisors LLC boosted its stake in Chevron Corporation (NYSE:CVX - Free Report) by 1,194.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 253,095 shares of the oil and gas company's stock after purchasing an additional 233,545 shares during the period. Chevron comprises 1.1% of Cohen Investment Advisors LLC's investment portfolio, making the stock its 21st largest position. Cohen Investment Advisors LLC's holdings in Chevron were worth $42,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of CVX. IMG Wealth Management Inc. purchased a new position in Chevron in the 4th quarter worth approximately $25,000. Life Planning Partners Inc purchased a new position in Chevron in the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron in the 4th quarter worth approximately $29,000. 10Elms LLP purchased a new position in Chevron in the 4th quarter worth approximately $29,000. Finally, Fairway Wealth LLC increased its stake in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 88 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on CVX shares. TD Cowen decreased their price target on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Piper Sandler dropped their price target on Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. DZ Bank cut 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. Barclays cut shares of Chevron from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Finally, HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and cut their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Three 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $160.29.

Chevron Trading Down 0.4%

Chevron stock opened at $143.87 on Friday. The business has a 50-day simple moving average of $140.20 and a two-hundred day simple moving average of $148.22. The company has a market cap of $251.26 billion, a P/E ratio of 16.44, a P/E/G ratio of 2.52 and a beta of 0.83. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly 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. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate 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 in the previous year, the company posted $2.93 EPS. Analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.75%. Chevron's dividend payout ratio is currently 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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