Chevron Corporation (NYSE:CVX) Shares Acquired by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC lifted its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 29.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,918 shares of the oil and gas company's stock after acquiring an additional 7,179 shares during the period. Kingswood Wealth Advisors LLC's holdings in Chevron were worth $5,355,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CVX. Norges Bank purchased a new position in shares of Chevron during the fourth quarter worth approximately $3,017,750,000. Raymond James Financial Inc. purchased a new position in shares of Chevron during the fourth quarter worth approximately $1,036,302,000. GAMMA Investing LLC grew its position in shares of Chevron by 21,191.5% during the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock worth $904,746,000 after acquiring an additional 5,382,847 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Chevron by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock worth $2,389,380,000 after acquiring an additional 2,432,756 shares during the last quarter. Finally, Amundi lifted its holdings in shares of Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock worth $1,323,549,000 after purchasing an additional 1,910,262 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Mizuho decreased their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Barclays downgraded Chevron from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. TD Cowen decreased their price target on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a report on Monday, May 5th. Wells Fargo & Company decreased their price target on Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Finally, Piper Sandler decreased their price target on Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Three investment 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.com, Chevron currently has an average rating of "Hold" and an average target price of $160.24.

Chevron Price Performance

Shares of NYSE CVX traded down $0.67 during trading on Thursday, hitting $148.18. 9,824,086 shares of the company were exchanged, compared to its average volume of 8,222,007. The company has a market cap of $258.78 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 2.60 and a beta of 0.83. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The firm's fifty day moving average price is $139.09 and its 200 day moving average price is $148.81. 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 (NYSE:CVX - Get Free Report) last issued its 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. The company had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business's revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.93 EPS. On average, sell-side analysts expect 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 was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.62%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio (DPR) is presently 78.17%.

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.