Marietta Wealth Management LLC Buys 2,080 Shares of Chevron Corporation (NYSE:CVX)

Marietta Wealth Management LLC lifted its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 5.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 42,886 shares of the oil and gas company's stock after acquiring an additional 2,080 shares during the quarter. Marietta Wealth Management LLC's holdings in Chevron were worth $7,174,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. IMG Wealth Management Inc. bought a new position in Chevron in the 4th quarter worth approximately $25,000. Life Planning Partners Inc bought a new position in Chevron in the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron in the 4th quarter worth approximately $29,000. 10Elms LLP bought a new position in Chevron in the 4th quarter worth approximately $29,000. Finally, Fairway Wealth LLC boosted its stake in Chevron by 75.9% in 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 period. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CVX. Barclays downgraded Chevron from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Wells Fargo & Company lowered their target price on Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Redburn Atlantic reiterated a "sell" rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, UBS Group lowered their target price on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Chevron has an average rating of "Hold" and a consensus price target of $160.24.

Chevron Stock Performance

NYSE:CVX opened at $149.36 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The stock's fifty day moving average is $139.37 and its 200 day moving average is $148.72. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm has a market capitalization of $260.84 billion, a PE ratio of 17.07, a PEG ratio of 2.60 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 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.93 earnings per share. On average, sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current 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. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.58%. Chevron's dividend payout ratio is currently 78.17%.

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.

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