Liberty Square Wealth Partners LLC acquired a new position in Chevron Co. (NYSE:CVX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,709 shares of the oil and gas company's stock, valued at approximately $421,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Life Planning Partners Inc acquired a new position in shares of Chevron in the 4th quarter valued at $25,000. IMG Wealth Management Inc. acquired a new position in Chevron in the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron during the 4th quarter worth about $29,000. 10Elms LLP acquired a new stake in shares of Chevron in the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC raised its holdings in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 88 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.
Wall Street Analysts Forecast Growth
CVX has been the topic of a number of analyst reports. Mizuho cut their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Wells Fargo & Company cut their price target 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. Royal Bank of Canada restated an "outperform" rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Finally, BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $160.24.
Check Out Our Latest Analysis on Chevron
Chevron Stock Up 1.1%
NYSE CVX traded up $1.47 during trading hours on Thursday, hitting $137.49. The company's stock had a trading volume of 4,334,660 shares, compared to its average volume of 8,068,162. The company has a market capitalization of $240.12 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The company's 50-day simple moving average is $143.01 and its two-hundred day simple moving average is $150.83.
Chevron (NYSE:CVX - Get Free Report) last issued its quarterly 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 return on equity of 11.44% and a net margin of 8.71%. The company had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same period last year, the business posted $2.93 earnings per share. Chevron's revenue was down 2.3% on a year-over-year basis. Research analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.
Chevron Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.97%. Chevron's payout ratio is presently 78.17%.
About Chevron
(
Free Report)
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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