Chevron Co. (NYSE:CVX) Stock Position Lifted by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC lifted its stake in Chevron Co. (NYSE:CVX) by 0.2% in the 1st quarter, HoldingsChannel reports. The firm owned 75,536 shares of the oil and gas company’s stock after buying an additional 188 shares during the quarter. Chevron accounts for 2.4% of Alpha Omega Wealth Management LLC’s portfolio, making the stock its 4th biggest position. Alpha Omega Wealth Management LLC’s holdings in Chevron were worth $12,636,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TFB Advisors LLC boosted its stake in shares of Chevron by 2.4% during the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock worth $411,000 after buying an additional 66 shares during the period. W.H. Cornerstone Investments Inc. lifted its position in Chevron by 1.4% during the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock worth $677,000 after acquiring an additional 66 shares during the period. Parkside Financial Bank & Trust lifted its position in Chevron by 0.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock worth $2,207,000 after acquiring an additional 66 shares during the period. Berkeley Capital Partners LLC grew its stake in shares of Chevron by 0.4% in the 4th quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock valued at $2,572,000 after purchasing an additional 67 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC increased its stake in Chevron by 6.1% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company’s stock valued at $171,000 after buying an additional 68 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Up 1.9%

CVX opened at $143.40 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a market cap of $250.43 billion, a price-to-earnings ratio of 14.75, a PEG 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. The business’s fifty day moving average is $138.21 and its two-hundred day moving average is $149.46.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.93 EPS. Analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.77%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Wall Street Analyst Weigh In

Several research firms have recently commented on CVX. UBS Group reduced their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Wells Fargo & Company reduced their price objective on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Redburn Atlantic reaffirmed a “sell” rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. TD Cowen cut their target price on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, May 5th. Finally, Mizuho reduced their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.