LeConte Wealth Management LLC Purchases New Position in Chevron Corporation $CVX

Key Points

• LeConte Wealth Management LLC purchased a new stake in Chemavron Corporation during the first quarter, acquiring 1,749 shares valued at approximately $293,000.
• Chevron recently declared a quarterly dividend of $1.71 per share, translating to an annualized dividend of $6.84 and a yield of 4.4%.
• Chevron reported earnings of $1.77 per share for the last quarter, exceeding analysts' estimates, but its revenue declined by 12.4% compared to the previous year.

LeConte Wealth Management LLC bought a new position in Chevron Corporation (NYSE:CVX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,749 shares of the oil and gas company's stock, valued at approximately $293,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sage Capital Advisors llc grew its position in shares of Chevron by 2.2% during the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock worth $7,097,000 after buying an additional 919 shares in the last quarter. CCG Wealth Management LLC boosted its position in Chevron by 2.3% during the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after purchasing an additional 145 shares in the last quarter. Ignite Planners LLC boosted its holdings in Chevron by 14.1% in the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock worth $2,060,000 after acquiring an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. boosted its holdings in Chevron by 9.1% in the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock worth $993,000 after acquiring an additional 495 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Chevron by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock worth $24,075,000 after acquiring an additional 675 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Morgan Stanley started coverage on Chevron in a research note on Monday, August 4th. They issued an "overweight" rating and a $174.00 price objective for the company. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $178.00 price target on shares of Chevron in a research note on Friday, August 1st. HSBC downgraded Chevron from a "buy" rating to a "hold" rating and reduced their target price for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. DZ Bank downgraded Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective on the stock. in a report on Tuesday, May 6th. Finally, Scotiabank reaffirmed a "sector perform" rating and set a $160.00 price objective (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. Eleven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Chevron has an average rating of "Hold" and an average price target of $164.33.

Chevron Stock Down 2.0%

NYSE:CVX traded down $3.1060 on Tuesday, hitting $152.2140. The stock had a trading volume of 8,557,695 shares, compared to its average volume of 9,710,176. The firm's fifty day simple moving average is $150.42 and its two-hundred day simple moving average is $148.53. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The stock has a market cap of $263.02 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 2.33 and a beta of 0.87.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same period in the previous year, the business earned $2.55 EPS. Chevron's revenue was down 12.4% compared to the same quarter last year. Analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron's payout ratio is currently 88.03%.

Chevron Company 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.