Recurrent Investment Advisors LLC Takes Position in Chevron Co. (NYSE:CVX)

Recurrent Investment Advisors LLC acquired a new stake in shares of Chevron Co. (NYSE:CVX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,153 shares of the oil and gas company's stock, valued at approximately $3,064,000. Chevron comprises about 0.3% of Recurrent Investment Advisors LLC's portfolio, making the stock its 26th largest position.

A number of other hedge funds have also made changes to their positions in the stock. Life Planning Partners Inc acquired a new stake in Chevron in the 4th quarter valued at approximately $25,000. IMG Wealth Management Inc. acquired a new stake in Chevron in the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron in the 4th quarter valued at approximately $29,000. Fairway Wealth LLC grew 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 valued at $30,000 after buying an additional 88 shares during the last quarter. Finally, Navigoe LLC acquired a new stake in Chevron in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of research reports. Wells Fargo & Company reduced their price objective on Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Royal Bank of Canada restated an "outperform" rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Mizuho cut their target price on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday. Piper Sandler cut their target price on Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research report on Tuesday. Finally, DZ Bank downgraded Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a research report on Tuesday, May 6th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $160.24.

Chevron Price Performance

CVX traded down $0.22 during trading on Friday, hitting $142.04. The company's stock had a trading volume of 8,191,570 shares, compared to its average volume of 8,023,184. The firm's 50 day moving average price is $146.65 and its two-hundred day moving average price is $151.76. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a market capitalization of $248.06 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the firm earned $2.93 EPS. Sell-side analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.82%. Chevron's dividend payout ratio (DPR) is currently 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.