Capital Wealth Planning LLC grew its stake in Chevron Co. (NYSE:CVX) by 33.9% in the first quarter, HoldingsChannel.com reports. The fund owned 839,378 shares of the oil and gas company’s stock after acquiring an additional 212,412 shares during the period. Chevron makes up 3.8% of Capital Wealth Planning LLC’s investment portfolio, making the stock its 12th largest position. Capital Wealth Planning LLC’s holdings in Chevron were worth $60,821,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Sailer Financial LLC acquired a new position in shares of Chevron in the 4th quarter valued at approximately $25,000. Filbrandt Wealth Management LLC acquired a new position in shares of Chevron in the 4th quarter valued at approximately $25,000. Corbenic Partners LLC grew its position in shares of Chevron by 276.0% in the 1st quarter. Corbenic Partners LLC now owns 361 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 265 shares during the period. Roffman Miller Associates Inc. PA acquired a new position in shares of Chevron in the 4th quarter valued at approximately $27,000. Finally, Advocacy Wealth Management Services LLC grew its position in shares of Chevron by 84.2% in the 1st quarter. Advocacy Wealth Management Services LLC now owns 396 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 181 shares during the period. 66.85% of the stock is owned by institutional investors.
CVX traded down $0.58 during trading hours on Monday, reaching $88.86. The company’s stock had a trading volume of 3,385,720 shares, compared to its average volume of 13,185,731. Chevron Co. has a 52 week low of $51.60 and a 52 week high of $127.00. The company’s 50-day moving average is $78.14 and its 200-day moving average is $104.97. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 1.07. The firm has a market cap of $166.98 billion, a PE ratio of 43.64 and a beta of 1.31.
Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $0.64 by $1.29. The firm had revenue of $31.50 billion for the quarter, compared to analysts’ expectations of $30.46 billion. Chevron had a return on equity of 8.17% and a net margin of 2.71%. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.47 EPS. Equities analysts anticipate that Chevron Co. will post -0.9 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be given a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 5.81%. The ex-dividend date is Monday, May 18th. Chevron’s payout ratio is 82.30%.
In other news, Director John Frank acquired 1,000 shares of the stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $96.59 per share, for a total transaction of $96,590.00. Following the transaction, the director now directly owns 5,114 shares of the company’s stock, valued at $493,961.26. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is owned by company insiders.
A number of equities analysts have weighed in on CVX shares. Mizuho reduced their price target on Chevron from $140.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. UBS Group reaffirmed a “buy” rating and set a $95.00 price target on shares of Chevron in a research report on Tuesday, April 7th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and set a $137.00 price target for the company in a research report on Thursday, January 23rd. Jefferies Financial Group reaffirmed a “buy” rating and set a $92.00 price target on shares of Chevron in a research report on Friday. Finally, Raymond James reduced their price target on Chevron from $125.00 to $105.00 and set an “outperform” rating for the company in a research report on Tuesday, March 17th. Seven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $113.05.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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