Simplicity Wealth LLC Has $2.87 Million Holdings in Chevron Co. (NYSE:CVX)

Simplicity Wealth LLC increased its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 180.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,162 shares of the oil and gas company's stock after purchasing an additional 11,032 shares during the quarter. Simplicity Wealth LLC's holdings in Chevron were worth $2,871,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CVX. TFB Advisors LLC raised its holdings in shares of Chevron by 2.4% during the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company's stock worth $411,000 after acquiring an additional 66 shares during the period. W.H. Cornerstone Investments Inc. increased its holdings in Chevron by 1.4% during the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock worth $677,000 after purchasing an additional 66 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Chevron by 0.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock valued at $2,207,000 after purchasing an additional 66 shares during the period. Berkeley Capital Partners LLC raised its stake in shares of Chevron by 0.4% in the 4th quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock valued at $2,572,000 after purchasing an additional 67 shares during the period. Finally, CBIZ Investment Advisory Services LLC lifted its holdings in shares of Chevron by 6.1% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company's stock valued at $171,000 after purchasing an additional 68 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wells Fargo & Company decreased their price objective on Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a report on Monday, May 5th. HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and decreased their price target for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and cut their price objective for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. 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. Finally, Barclays lowered shares of Chevron from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Chevron presently has a consensus rating of "Hold" and an average target price of $160.24.

Chevron Stock Performance

NYSE CVX traded up $2.64 during trading on Tuesday, reaching $143.40. 9,839,580 shares of the company's stock were exchanged, compared to its average volume of 8,133,987. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a market capitalization of $250.43 billion, a P/E ratio of 14.75, a PEG ratio of 1.46 and a beta of 0.83. The business has a 50 day moving average price of $138.46 and a 200-day moving average price of $149.50. 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 (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.93 earnings per share. Sell-side analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.77%. 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.