Endowment Wealth Management Inc. Makes New $276,000 Investment in Chevron Corporation (NYSE:CVX)

Key Points

• Endowment Wealth Management Inc. has acquired a new stake in Cheron Corporation, purchasing 1,652 shares valued at approximately $276,000.
• Several hedge funds, including Northern Trust Corp and Ameriprise Financial Inc., have also increased their stakes in Chevron, indicating strong institutional interest in the company.
• Chevron recently declared a quarterly dividend of $1.71 per share, which represents an annualized yield of 4.5%, highlighting the company’s commitment to returning value to its shareholders.

Endowment Wealth Management Inc. bought a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,652 shares of the oil and gas company's stock, valued at approximately $276,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CoreCap Advisors LLC increased its stake in Chevron by 0.3% during the fourth quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock worth $4,091,000 after acquiring an additional 71 shares during the last quarter. Clayton Financial Group LLC boosted its holdings in shares of Chevron by 4.6% in the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock worth $285,000 after purchasing an additional 75 shares during the period. Gill Capital Partners LLC raised its holdings in Chevron by 4.9% during the 1st quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company's stock valued at $271,000 after buying an additional 75 shares during the period. Cordatus Wealth Management LLC lifted its position in Chevron by 0.4% in the first quarter. Cordatus Wealth Management LLC now owns 19,723 shares of the oil and gas company's stock worth $3,299,000 after buying an additional 76 shares during the last quarter. Finally, Requisite Capital Management LLC boosted its stake in Chevron by 1.2% during the first quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company's stock worth $1,064,000 after buying an additional 77 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Up 0.2%

Shares of CVX stock traded up $0.33 on Thursday, hitting $153.11. The stock had a trading volume of 6,508,513 shares, compared to its average volume of 12,483,338. 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 Corporation has a one year low of $132.04 and a one year high of $168.96. The business has a 50 day moving average price of $148.08 and a 200 day moving average price of $148.65. The company has a market cap of $267.40 billion, a PE ratio of 19.71, a P/E/G ratio of 2.29 and a beta of 0.87.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. The firm had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.80%. The company's revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.55 EPS. Research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron's dividend payout ratio is presently 88.03%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Raymond James Financial reissued an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. UBS Group raised their price objective on shares of Chevron from $177.00 to $186.00 and gave the stock a "buy" rating in a research note on Monday. Piper Sandler restated an "overweight" rating on shares of Chevron in a research report on Tuesday, July 15th. Finally, Barclays reiterated an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, Chevron has an average rating of "Hold" and an average target price of $164.11.

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.