Wilkins Miller Wealth Management LLC Buys New Holdings in Chevron Co. (NYSE:CVX)

Wilkins Miller Wealth Management LLC bought a new stake in shares of Chevron Co. (NYSE:CVX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,342 shares of the oil and gas company's stock, valued at approximately $1,208,000. Chevron makes up about 1.3% of Wilkins Miller Wealth Management LLC's investment portfolio, making the stock its 20th biggest position.

Several other institutional investors have also recently made changes to their positions in CVX. Life Planning Partners Inc purchased a new stake in Chevron in the 4th quarter worth $25,000. IMG Wealth Management Inc. purchased a new stake in Chevron in the 4th quarter worth $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Chevron in the 4th quarter worth $29,000. 10Elms LLP purchased a new stake in Chevron in the 4th quarter worth $29,000. Finally, Fairway Wealth LLC increased its holdings in Chevron by 75.9% in the 4th 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. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Down 1.3%

NYSE CVX traded down $1.78 during trading hours on Wednesday, reaching $136.05. The company had a trading volume of 6,859,635 shares, compared to its average volume of 8,077,885. The stock has a 50-day moving average of $143.58 and a 200 day moving average of $150.94. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. 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 stock has a market capitalization of $237.60 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. During the same quarter in the prior year, the company posted $2.93 earnings per share. Chevron's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's dividend payout ratio (DPR) is currently 78.17%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CVX shares. Barclays cut shares of Chevron from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Raymond James lowered their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Piper Sandler lowered their target price on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. UBS Group lowered their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Finally, TD Cowen lowered their target price on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $160.24.

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.