Sagespring Wealth Partners LLC Purchases 8,234 Shares of Chevron Co. (NYSE:CVX)

Sagespring Wealth Partners LLC increased its position in Chevron Co. (NYSE:CVX - Free Report) by 26.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 38,831 shares of the oil and gas company's stock after buying an additional 8,234 shares during the period. Sagespring Wealth Partners LLC's holdings in Chevron were worth $6,496,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Murphy Pohlad Asset Management LLC boosted its holdings in Chevron by 0.5% in the 1st quarter. Murphy Pohlad Asset Management LLC now owns 25,579 shares of the oil and gas company's stock worth $4,279,000 after buying an additional 120 shares during the period. Adero Partners LLC boosted its holdings in Chevron by 22.6% in the 1st quarter. Adero Partners LLC now owns 6,377 shares of the oil and gas company's stock worth $1,067,000 after buying an additional 1,177 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Chevron by 0.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,210,698 shares of the oil and gas company's stock worth $202,538,000 after buying an additional 7,697 shares during the period. M.E. Allison & CO. Inc. boosted its holdings in shares of Chevron by 86.4% during the 1st quarter. M.E. Allison & CO. Inc. now owns 9,861 shares of the oil and gas company's stock valued at $1,650,000 after purchasing an additional 4,572 shares during the last quarter. Finally, Mission Wealth Management LP grew its position in shares of Chevron by 44.3% during the first quarter. Mission Wealth Management LP now owns 56,946 shares of the oil and gas company's stock valued at $9,527,000 after purchasing an additional 17,472 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Barclays lowered Chevron from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Redburn Atlantic restated a "sell" rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Scotiabank lowered Chevron from a "sector outperform" rating to a "sector perform" rating and cut their price objective for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Finally, Mizuho lowered their price target 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 investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Chevron has an average rating of "Hold" and a consensus target price of $160.24.

Chevron Stock Performance

Chevron stock opened at $145.74 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a market capitalization of $254.52 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company's 50-day moving average is $138.53 and its 200 day moving average is $149.02.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period in the prior year, the company posted $2.93 EPS. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. Research analysts forecast that Chevron Co. 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 given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend was Monday, May 19th. 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.

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