Spartan Planning & Wealth Management Makes New Investment in Chevron Co. (NYSE:CVX)

Spartan Planning & Wealth Management acquired a new stake in shares of Chevron Co. (NYSE:CVX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,891 shares of the oil and gas company's stock, valued at approximately $484,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. TFB Advisors LLC boosted its position in 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 purchasing an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. increased its stake in Chevron by 1.4% in the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock valued at $677,000 after purchasing an additional 66 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Chevron by 0.4% in the fourth 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 last quarter. Western Pacific Wealth Management LP increased its stake in Chevron by 14.9% during the fourth quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company's stock worth $75,000 after acquiring an additional 67 shares during the last quarter. Finally, Berkeley Capital Partners LLC increased its stake in Chevron by 0.4% during the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock worth $2,572,000 after acquiring an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CVX shares. BNP Paribas lowered Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Raymond James decreased their target price on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Redburn Atlantic reiterated a "sell" rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. TD Cowen cut their price target on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Finally, Truist Financial cut their price target on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a report on Tuesday, February 4th. Three 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 stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $160.24.

Chevron Price Performance

Shares of NYSE CVX traded up $0.91 during mid-day trading on Monday, reaching $137.61. The company had a trading volume of 7,152,047 shares, compared to its average volume of 8,103,079. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market cap of $240.32 billion, a PE ratio of 14.16, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a 50-day moving average price of $141.88 and a two-hundred day moving average price of $150.44. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter in the previous year, the company posted $2.93 earnings per share. Chevron's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.97%. Chevron's payout ratio is 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.