Good Steward Wealth Advisors LLC Makes New $972,000 Investment in Chevron Corporation (NYSE:CVX)

Good Steward Wealth Advisors LLC bought a new stake in Chevron Corporation (NYSE:CVX - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,811 shares of the oil and gas company's stock, valued at approximately $972,000. Chevron comprises approximately 0.9% of Good Steward Wealth Advisors LLC's investment portfolio, making the stock its 24th largest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVX. Capital & Planning LLC boosted its holdings in shares of Chevron by 15.2% in the 4th quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company's stock worth $243,000 after buying an additional 222 shares during the last quarter. Eagle Capital Management LLC increased its holdings in Chevron by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock worth $5,011,000 after buying an additional 242 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Chevron in the 4th quarter worth approximately $8,947,000. Bank Pictet & Cie Europe AG raised its stake in shares of Chevron by 7.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock valued at $5,212,000 after buying an additional 2,641 shares during the period. Finally, Strategic Financial Concepts LLC lifted its holdings in Chevron by 212.4% during the fourth quarter. Strategic Financial Concepts LLC now owns 5,352 shares of the oil and gas company's stock valued at $775,000 after purchasing an additional 3,639 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

CVX stock opened at $148.18 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a market cap of $258.78 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 2.60 and a beta of 0.83. The stock's fifty day moving average price is $139.09 and its 200-day moving average price is $148.81.

Chevron (NYSE:CVX - Get Free Report) last announced 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. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same period in the prior year, the company earned $2.93 earnings per share. The firm's revenue was down 2.3% on a year-over-year basis. On average, equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio is 78.17%.

Analyst Ratings Changes

Several equities research analysts have issued reports on CVX shares. Scotiabank downgraded Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. TD Cowen lowered their price target on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Finally, 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. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $160.24.

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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