Diversify Wealth Management LLC Increases Holdings in Chevron Corporation (NYSE:CVX)

Diversify Wealth Management LLC raised its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 17.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,730 shares of the oil and gas company's stock after buying an additional 5,247 shares during the quarter. Diversify Wealth Management LLC's holdings in Chevron were worth $5,977,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IMG Wealth Management Inc. purchased a new position in shares of Chevron in the 4th quarter worth about $25,000. Life Planning Partners Inc purchased a new position in shares of Chevron in the 4th quarter worth about $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron in the 4th quarter worth about $29,000. 10Elms LLP purchased a new position in shares of Chevron in the 4th quarter worth about $29,000. Finally, Navigoe LLC purchased a new position in shares of Chevron in the 4th quarter worth about $33,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CVX shares. HSBC cut Chevron from a "buy" rating to a "hold" rating and cut their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. DZ Bank cut Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a report on Tuesday, May 6th. Wells Fargo & Company restated an "overweight" rating and set a $165.00 price target (up from $164.00) on shares of Chevron in a research report on Thursday, June 26th. BNP Paribas lowered Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Finally, Piper Sandler raised their price target on Chevron from $162.00 to $164.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. Three investment 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's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $161.65.

Chevron Stock Down 2.3%

Shares of CVX traded down $3.51 on Monday, reaching $151.80. The stock had a trading volume of 10,704,141 shares, compared to its average volume of 8,369,097. The firm has a market capitalization of $265.10 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 2.63 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The company has a 50-day simple moving average of $142.62 and a 200-day simple moving average of $148.47. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.93 EPS. Sell-side analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed 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. This represents a $6.84 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's 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.