ForthRight Wealth Management LLC Has $250,000 Stock Position in Chevron Co. (NYSE:CVX)

ForthRight Wealth Management LLC trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 4.9% during the first quarter, Holdings Channel reports. The firm owned 1,492 shares of the oil and gas company’s stock after selling 77 shares during the period. ForthRight Wealth Management LLC’s holdings in Chevron were worth $250,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new stake in Chevron during the fourth quarter valued at approximately $25,000. IMG Wealth Management Inc. acquired a new stake in Chevron during the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron during the fourth quarter valued at approximately $29,000. 10Elms LLP acquired a new stake in Chevron during the fourth quarter valued at approximately $29,000. Finally, Fairway Wealth LLC boosted its holdings in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CVX. Hsbc Global Res downgraded Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. UBS Group reduced their target price on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $160.00 to $143.00 in a report on Friday, April 11th. BNP Paribas downgraded Chevron to a “cautious” rating in a report on Tuesday, April 15th. Finally, DZ Bank downgraded Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a report on Tuesday, May 6th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $160.24.

Chevron Stock Performance

CVX stock opened at $144.83 on Thursday. The company has a 50 day moving average price of $138.24 and a 200 day moving average price of $149.42. The stock has a market capitalization of $252.93 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last issued 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 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 quarter in the previous year, the company posted $2.93 EPS. Analysts forecast that Chevron Co. will post 10.79 EPS for the current 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 $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.72%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio (DPR) 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.