SpringVest Wealth Management LLC Invests $270,000 in Chevron Co. (NYSE:CVX)

SpringVest Wealth Management LLC bought a new position in shares of Chevron Co. (NYSE:CVX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,865 shares of the oil and gas company's stock, valued at approximately $270,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. IMG Wealth Management Inc. acquired a new stake in Chevron in the 4th quarter worth about $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron in the fourth quarter valued at approximately $29,000. 10Elms LLP purchased a new position in shares of Chevron in the fourth quarter valued at approximately $29,000. Fairway Wealth LLC boosted its stake in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after acquiring an additional 88 shares during the last quarter. Finally, Navigoe LLC acquired a new position in Chevron in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Performance

Shares of Chevron stock traded up $1.87 during trading on Thursday, reaching $137.89. The company's stock had a trading volume of 7,553,659 shares, compared to its average volume of 8,089,124. The firm has a market cap of $240.81 billion, a PE ratio of 14.19, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a 50-day moving average price of $143.01 and a two-hundred day moving average price of $150.83. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. 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 posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. Chevron's quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.93 earnings per share. On average, analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.96%. Chevron's dividend payout ratio (DPR) is 78.17%.

Analyst Ratings Changes

Several brokerages have issued reports on CVX. Raymond James lowered their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. BNP Paribas cut Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Barclays cut Chevron from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Wells Fargo & Company lowered their target price on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Finally, TD Cowen reduced their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $160.24.

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.