Michels Family Financial LLC Acquires Shares of 10,908 Chevron Co. (NYSE:CVX)

Michels Family Financial LLC bought a new position in shares of Chevron Co. (NYSE:CVX - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 10,908 shares of the oil and gas company's stock, valued at approximately $1,580,000. Chevron accounts for approximately 1.4% of Michels Family Financial LLC's holdings, making the stock its 15th biggest holding.

Several other institutional investors also recently modified their holdings of the stock. Life Planning Partners Inc acquired a new position in shares of Chevron in the 4th quarter valued at approximately $25,000. IMG Wealth Management Inc. bought a new position in Chevron in the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron in the fourth quarter valued at approximately $29,000. 10Elms LLP acquired a new position in shares of Chevron in the fourth quarter valued at approximately $29,000. Finally, Fairway Wealth LLC increased its position in shares of Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after acquiring an additional 88 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of research reports. Royal Bank of Canada restated an "outperform" rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. HSBC cut Chevron from a "buy" rating to a "hold" rating and cut their target price for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. TD Cowen decreased their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. UBS Group cut their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Finally, Mizuho reduced their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Three equities 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 company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $160.24.

Chevron Stock Performance

NYSE CVX traded down $0.59 on Wednesday, reaching $137.24. The stock had a trading volume of 3,244,601 shares, compared to its average volume of 8,064,043. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market cap of $239.68 billion, a P/E ratio of 14.12, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The firm has a fifty day moving average of $143.58 and a two-hundred day moving average of $150.94.

Chevron (NYSE:CVX - Get Free Report) last released 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. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the prior year, the company posted $2.93 earnings per share. Chevron's revenue was down 2.3% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Co. will post 10.79 EPS for the current 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 issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's dividend payout ratio (DPR) 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.