Chevron Corporation (NYSE:CVX) Shares Acquired by Prevail Innovative Wealth Advisors LLC

Prevail Innovative Wealth Advisors LLC raised its stake in Chevron Corporation (NYSE:CVX - Free Report) by 144.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,488 shares of the oil and gas company's stock after purchasing an additional 3,246 shares during the quarter. Prevail Innovative Wealth Advisors LLC's holdings in Chevron were worth $918,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. IMG Wealth Management Inc. purchased a new position in shares of Chevron in the 4th quarter valued at $25,000. Life Planning Partners Inc purchased a new position in shares of Chevron in the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron in the 4th quarter valued at $29,000. 10Elms LLP purchased a new position in shares of Chevron in the 4th quarter valued at $29,000. Finally, Navigoe LLC purchased a new position in shares of Chevron in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Mizuho cut their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. HSBC downgraded shares of 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. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a research note on Tuesday, May 6th. Wells Fargo & Company reissued an "overweight" rating and issued a $165.00 target price (up previously from $164.00) on shares of Chevron in a research note on Thursday, June 26th. Finally, BNP Paribas lowered shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $161.65.

Chevron Stock Down 0.5%

Shares of Chevron stock traded down $0.73 during trading on Wednesday, reaching $149.96. The company had a trading volume of 7,917,824 shares, compared to its average volume of 8,379,905. The company has a market cap of $261.88 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 2.56 and a beta of 0.83. The firm's fifty day moving average is $143.53 and its 200-day moving average is $148.55. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.93 EPS. On average, analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.56%. Chevron's dividend payout ratio (DPR) is presently 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.