Waverly Advisors LLC Grows Position in Chevron Co. (NYSE:CVX)

Waverly Advisors LLC boosted its holdings in Chevron Co. (NYSE:CVX - Free Report) by 24.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 77,200 shares of the oil and gas company's stock after acquiring an additional 15,274 shares during the quarter. Waverly Advisors LLC's holdings in Chevron were worth $11,182,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CVX. IMG Wealth Management Inc. purchased a new position in shares of Chevron in the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron in the fourth quarter valued at $29,000. Fairway Wealth LLC increased its position 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 valued at $30,000 after buying an additional 88 shares in the last quarter. Navigoe LLC purchased a new position in shares of Chevron in the fourth quarter valued at $33,000. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Chevron in the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Raymond James dropped their price target on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Scotiabank lowered Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the company from $160.00 to $143.00 in a research note on Friday, April 11th. HSBC lowered Chevron from a "buy" rating to a "hold" rating and decreased their price objective for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company decreased their price target on Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $160.24.

Chevron Stock Performance

Chevron stock opened at $137.21 on Wednesday. The stock's 50 day moving average price is $146.04 and its 200 day moving average price is $151.61. The firm has a market capitalization of $239.62 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. 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 quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. Chevron's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.93 EPS. As a group, sell-side analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business 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 dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.99%. The ex-dividend date is Monday, May 19th. Chevron's dividend payout ratio (DPR) is presently 78.17%.

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.

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