SteelPeak Wealth LLC Buys 93,674 Shares of Chevron Corporation (NYSE:CVX)

SteelPeak Wealth LLC boosted its position in Chevron Corporation (NYSE:CVX - Free Report) by 209.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,471 shares of the oil and gas company's stock after buying an additional 93,674 shares during the quarter. Chevron makes up approximately 1.0% of SteelPeak Wealth LLC's portfolio, making the stock its 24th biggest position. SteelPeak Wealth LLC's holdings in Chevron were worth $23,165,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sage Capital Advisors llc lifted its position in Chevron by 2.2% in the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after purchasing an additional 919 shares during the last quarter. CCG Wealth Management LLC lifted its position in Chevron by 2.3% in the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after purchasing an additional 145 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in Chevron by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock valued at $24,075,000 after purchasing an additional 675 shares during the last quarter. Pines Wealth Management LLC lifted its position in Chevron by 3.3% in the first quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company's stock valued at $1,306,000 after purchasing an additional 253 shares during the last quarter. Finally, Viking Fund Management LLC lifted its position in Chevron by 9.3% in the first quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company's stock valued at $19,573,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Stock Down 2.3%

CVX traded down $3.51 during trading on Monday, reaching $151.80. The stock had a trading volume of 10,704,141 shares, compared to its average volume of 8,369,097. The stock's 50 day moving average is $142.62 and its two-hundred day moving average is $148.47. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $265.10 billion, a price-to-earnings ratio of 17.35, a P/E/G ratio of 2.63 and a beta of 0.83. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results 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. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. During the same period in the prior year, the firm posted $2.93 earnings per share. The company's quarterly revenue was down 2.3% on a year-over-year basis. As a group, analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.51%. Chevron's payout ratio is presently 78.17%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CVX. Redburn Atlantic reiterated a "sell" rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Barclays upped their target price on Chevron from $152.00 to $156.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. Piper Sandler upped their target price on Chevron from $162.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, July 2nd. Scotiabank restated a "sector perform" rating and set a $160.00 target price (up previously from $143.00) on shares of Chevron in a report on Friday. Finally, UBS Group decreased their target price on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Chevron presently has an average rating of "Hold" and an average price target of $161.65.

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.