Leigh Baldwin & CO. LLC Takes Position in Chevron Co. (NYSE:CVX)

Leigh Baldwin & CO. LLC acquired a new stake in Chevron Co. (NYSE:CVX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,326 shares of the oil and gas company's stock, valued at approximately $482,000.

A number of other institutional investors have also recently bought and sold shares of the business. Life Planning Partners Inc acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $25,000. IMG Wealth Management Inc. acquired a new position in shares of Chevron in the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron in the 4th quarter valued at $29,000. 10Elms LLP acquired a new stake in Chevron during the 4th quarter worth $29,000. Finally, Fairway Wealth LLC grew its stake in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after acquiring an additional 88 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CVX. Redburn Atlantic reiterated a "sell" rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. TD Cowen cut their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. UBS Group reduced their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. Wells Fargo & Company cut their price objective on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Finally, Piper Sandler lowered their target price 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $160.24.

Chevron Stock Performance

NYSE CVX traded up $1.24 during trading on Tuesday, reaching $137.78. 8,339,036 shares of the company's stock were exchanged, compared to its average volume of 8,082,749. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The business has a 50 day moving average price of $144.12 and a 200-day moving average price of $151.03. The stock has a market capitalization of $240.62 billion, a P/E ratio of 14.17, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter last year, the firm posted $2.93 EPS. The company's quarterly revenue was down 2.3% on a year-over-year basis. Sell-side analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.96%. 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.