Wealth Alliance LLC Has $3.71 Million Stake in Chevron Corporation (NYSE:CVX)

Wealth Alliance LLC increased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 17.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,174 shares of the oil and gas company's stock after acquiring an additional 3,223 shares during the period. Wealth Alliance LLC's holdings in Chevron were worth $3,709,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CVX. Mizuho Securities Co. Ltd. purchased a new stake in Chevron during the 4th quarter worth about $29,000. 10Elms LLP acquired a new stake in shares of Chevron in the 4th quarter valued at about $29,000. IFS Advisors LLC lifted its position in Chevron by 119.6% during the 1st 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 during the period. Navigoe LLC acquired a new stake in Chevron during the 4th quarter worth approximately $33,000. Finally, Cloud Capital Management LLC acquired a new stake in Chevron during the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Performance

Shares of NYSE CVX traded down $1.59 during trading on Friday, reaching $149.79. The stock had a trading volume of 45,762,307 shares, compared to its average volume of 8,549,393. The stock has a market cap of $261.59 billion, a PE ratio of 17.12, a P/E/G ratio of 2.48 and a beta of 0.83. The firm's 50 day moving average price is $144.04 and its two-hundred day moving average price is $148.67. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business's revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.93 earnings per share. On average, research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.57%. Chevron's dividend payout ratio (DPR) is presently 78.17%.

Analyst Ratings Changes

CVX has been the subject of several research analyst reports. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $165.00 price objective (up from $164.00) on shares of Chevron in a research note on Thursday, June 26th. Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a report on Friday. Scotiabank restated a "sector perform" rating and set a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. TD Cowen reduced their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Finally, HSBC cut Chevron from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Chevron presently has a consensus rating of "Hold" and a consensus target price of $161.31.

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.