Wealth Enhancement Advisory Services LLC Grows Position in Chevron Corporation (NYSE:CVX)

Wealth Enhancement Advisory Services LLC increased its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 10.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,133,752 shares of the oil and gas company's stock after acquiring an additional 104,103 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.06% of Chevron worth $189,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of CVX. Tritonpoint Wealth LLC boosted its position in Chevron by 3.8% during the 1st quarter. Tritonpoint Wealth LLC now owns 51,226 shares of the oil and gas company's stock valued at $8,570,000 after buying an additional 1,877 shares during the period. Meritas Wealth Management LLC bought a new position in shares of Chevron during the first quarter valued at about $223,000. Azzad Asset Management Inc. ADV purchased a new stake in shares of Chevron during the first quarter worth about $5,013,000. Goldstone Financial Group LLC grew its stake in shares of Chevron by 69.7% in the first quarter. Goldstone Financial Group LLC now owns 8,444 shares of the oil and gas company's stock worth $1,413,000 after purchasing an additional 3,467 shares during the last quarter. Finally, CVA Family Office LLC raised its position in Chevron by 2.2% during the 1st quarter. CVA Family Office LLC now owns 9,496 shares of the oil and gas company's stock valued at $1,589,000 after purchasing an additional 203 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CVX shares. UBS Group reduced their target price on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Scotiabank downgraded shares of Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the company from $160.00 to $143.00 in a research report on Friday, April 11th. TD Cowen decreased their price objective on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a report on Monday, May 5th. Piper Sandler dropped their target price on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Finally, DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a research report on Tuesday, May 6th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Chevron has an average rating of "Hold" and a consensus price target of $160.24.

Chevron Stock Down 0.4%

Shares of NYSE CVX traded down $0.67 during trading on Thursday, reaching $148.18. The company had a trading volume of 9,824,086 shares, compared to its average volume of 8,222,007. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The business's 50-day moving average is $138.82 and its 200 day moving average is $148.90. The stock has a market cap of $258.78 billion, a PE ratio of 16.93, a P/E/G ratio of 2.61 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results 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 7.76% and a return on equity of 10.73%. Chevron's revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.93 EPS. As a group, equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company 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. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date was Monday, May 19th. Chevron's payout ratio is 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.