Net Worth Advisory Group Raises Holdings in Chevron Co. (NYSE:CVX)

Net Worth Advisory Group lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 31.0% during the first quarter, Holdings Channel.com reports. The fund owned 6,002 shares of the oil and gas company’s stock after acquiring an additional 1,419 shares during the period. Net Worth Advisory Group’s holdings in Chevron were worth $1,004,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. IMG Wealth Management Inc. purchased a new stake in Chevron in the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Chevron in the fourth quarter valued at approximately $29,000. 10Elms LLP purchased a new stake in Chevron in the fourth quarter valued at approximately $29,000. Fairway Wealth LLC boosted its position in Chevron by 75.9% in the fourth 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, IFS Advisors LLC boosted its position in Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 1.0%

Shares of NYSE:CVX opened at $144.83 on Thursday. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a market capitalization of $252.93 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. 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 business’s 50 day moving average price is $138.24 and its 200-day moving average price is $149.42.

Chevron (NYSE:CVX) last announced 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. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter last year, the firm posted $2.93 EPS. The business’s revenue was down 2.3% on a year-over-year basis. On average, equities research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio is currently 78.17%.

Analyst Ratings Changes

A number of brokerages recently commented on CVX. Barclays lowered Chevron from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. TD Cowen lowered their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Piper Sandler lowered their price objective on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Hsbc Global Res lowered Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Finally, Redburn Atlantic restated a “sell” rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Three equities research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.