Naples Global Advisors LLC Has $4.82 Million Stock Position in Chevron Co. (NYSE:CVX)

Naples Global Advisors LLC raised its holdings in Chevron Co. (NYSE:CVX) by 2.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,781 shares of the oil and gas company’s stock after buying an additional 586 shares during the quarter. Naples Global Advisors LLC’s holdings in Chevron were worth $4,815,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. IMG Wealth Management Inc. acquired a new stake in shares of Chevron in the 4th quarter valued at about $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron in the fourth quarter valued at approximately $29,000. 10Elms LLP bought a new stake in shares of Chevron during the fourth quarter valued at approximately $29,000. Fairway Wealth LLC raised its position in shares of Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 88 shares during the period. Finally, IFS Advisors LLC lifted its holdings in shares of Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 116 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

NYSE:CVX opened at $137.46 on Thursday. The stock has a market cap of $240.06 billion, a P/E ratio of 14.14, a PEG ratio of 1.46 and a beta of 0.83. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average price is $140.16 and its two-hundred day moving average price is $150.11. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96.

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 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 net margin of 8.71% and a return on equity of 11.44%. Chevron’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.93 earnings per share. As a group, equities analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.98%. Chevron’s dividend payout ratio is presently 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent research reports. Barclays lowered shares of Chevron from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Scotiabank downgraded 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 research note on Friday, April 11th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a report on Tuesday, May 6th. UBS Group cut their target price on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Finally, Redburn Atlantic reaffirmed a “sell” rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Chevron has a consensus rating of “Hold” and an average target price 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.