NewSquare Capital LLC Has $87,000 Stock Holdings in Chevron Co. (NYSE:CVX)

NewSquare Capital LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 714.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 521 shares of the oil and gas company’s stock after acquiring an additional 457 shares during the period. NewSquare Capital LLC’s holdings in Chevron were worth $87,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC grew its holdings in Chevron by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock worth $5,247,142,000 after acquiring an additional 392,916 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Chevron by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock valued at $4,613,960,000 after buying an additional 746,806 shares during the period. Norges Bank acquired a new position in shares of Chevron in the 4th quarter valued at $3,017,750,000. Northern Trust Corp grew its holdings in shares of Chevron by 7.3% in the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock valued at $2,965,135,000 after buying an additional 1,394,091 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in shares of Chevron by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock valued at $2,881,280,000 after buying an additional 410,460 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 0.4%

Shares of NYSE:CVX opened at $140.76 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company’s 50-day moving average price is $138.46 and its two-hundred day moving average price is $149.50. The stock has a market capitalization of $245.82 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron Co. has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating 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 8.71% and a return on equity of 11.44%. Chevron’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.93 EPS. On average, equities analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

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 issued a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.86%. Chevron’s payout ratio is 78.17%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CVX shares. Piper Sandler decreased their price target on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. BNP Paribas lowered shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. Redburn Atlantic reissued a “sell” rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, Barclays lowered shares of Chevron from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $160.24.

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.