Relyea Zuckerberg Hanson LLC Grows Stock Position in Chevron Co. (NYSE:CVX)

Relyea Zuckerberg Hanson LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 6.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,692 shares of the oil and gas company’s stock after purchasing an additional 333 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in Chevron were worth $952,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. TFB Advisors LLC lifted its holdings in Chevron by 2.4% in the 4th 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 in the last quarter. W.H. Cornerstone Investments Inc. lifted its holdings 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 buying an additional 66 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings 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 buying an additional 66 shares during the last quarter. Berkeley Capital Partners LLC raised its holdings in shares of Chevron by 0.4% during the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock worth $2,572,000 after purchasing an additional 67 shares during the period. Finally, CBIZ Investment Advisory Services LLC raised its holdings in shares of Chevron by 6.1% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company’s stock worth $171,000 after purchasing an additional 68 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CVX. Redburn Atlantic reaffirmed a “sell” rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Wells Fargo & Company reduced their price target on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Barclays downgraded shares of Chevron from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Mizuho reduced their price target on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Finally, Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $160.24.

Chevron Stock Performance

Shares of CVX opened at $144.90 on Friday. The company has a 50-day moving average of $138.35 and a two-hundred day moving average of $149.32. The stock has a market cap of $253.05 billion, a price-to-earnings ratio of 14.91, 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 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 announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.93 EPS. On average, equities research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

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.