Unique Wealth LLC Buys 2,903 Shares of Chevron Co. (NYSE:CVX)

Unique Wealth LLC lifted its stake in Chevron Co. (NYSE:CVX - Free Report) by 131.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,112 shares of the oil and gas company's stock after purchasing an additional 2,903 shares during the period. Unique Wealth LLC's holdings in Chevron were worth $855,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. IMG Wealth Management Inc. bought a new position in Chevron during the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron during the fourth quarter worth about $29,000. 10Elms LLP bought a new position in Chevron during the fourth quarter worth about $29,000. Fairway Wealth LLC lifted its holdings in Chevron by 75.9% during 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 in the last quarter. Finally, IFS Advisors LLC lifted its holdings in Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after acquiring an additional 116 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CVX has been the topic of several recent analyst reports. Mizuho reduced their target price on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. UBS Group cut their price target on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Piper Sandler cut their price target on Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company cut their price target on Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Finally, BNP Paribas lowered Chevron to a "cautious" rating in a report on Tuesday, April 15th. 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 data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Price Performance

Chevron stock opened at $136.82 on Friday. 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 company has a market capitalization of $238.95 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 1.46 and a beta of 0.83. The stock's 50 day moving average is $139.54 and its 200-day moving average is $149.95. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion for 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 business's revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.93 EPS. Equities research analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 5.00%. 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.

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