Pandora Wealth Inc. Purchases New Holdings in Chevron Corporation (NYSE:CVX)

Key Points

• Pandora Wealth Inc. recently acquired a new stake in Chevron Corporation, purchasing 3,065 shares valued at approximately $513,000 in the first quarter.
• The company announced a quarterly dividend of $1.71 per share, which represents an annualized yield of 4.4% with a payout ratio of 88.03%.
• Despite reporting a quarterly revenue of $44.82 billion, Chevron's earnings per share of $1.77 fell 30.6% year-over-year compared to $2.55 the previous year.

Pandora Wealth Inc. purchased a new stake in shares of Chevron Corporation (NYSE:CVX - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,065 shares of the oil and gas company's stock, valued at approximately $513,000.

A number of other large investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its position in Chevron by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock valued at $5,592,263,000 after acquiring an additional 1,574,464 shares during the period. Northern Trust Corp lifted its position in Chevron by 7.3% during the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock valued at $2,965,135,000 after acquiring an additional 1,394,091 shares during the period. Ameriprise Financial Inc. lifted its position in Chevron by 1.3% during the 4th quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company's stock valued at $2,421,564,000 after acquiring an additional 211,023 shares during the period. Capital World Investors lifted its position in Chevron by 11.4% during the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock valued at $2,039,288,000 after acquiring an additional 1,440,808 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Chevron by 2.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,755,894 shares of the oil and gas company's stock worth $1,992,406,000 after buying an additional 292,585 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of NYSE CVX opened at $154.98 on Friday. The firm has a 50 day moving average of $148.45 and a 200 day moving average of $148.63. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $270.66 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 2.30 and a beta of 0.87. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.80%. The firm's quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.55 earnings per share. On average, research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date is Tuesday, August 19th. Chevron's payout ratio is 88.03%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Redburn Atlantic reaffirmed a "sell" rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. TD Cowen lifted their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a report on Monday, August 4th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Chevron in a report on Friday, July 18th. DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a report on Tuesday, May 6th. Finally, Mizuho decreased 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 research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $164.11.

Chevron 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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