FMB Wealth Management Purchases 3,892 Shares of Chevron Co. (NYSE:CVX)

FMB Wealth Management raised its holdings in shares of Chevron Co. (NYSE:CVX) by 90.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 8,215 shares of the oil and gas company’s stock after acquiring an additional 3,892 shares during the quarter. Chevron comprises approximately 0.8% of FMB Wealth Management’s holdings, making the stock its 26th biggest position. FMB Wealth Management’s holdings in Chevron were worth $1,374,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. IMG Wealth Management Inc. bought a new position in Chevron in the 4th quarter worth about $25,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron during the fourth quarter worth about $29,000. 10Elms LLP bought a new position in shares of Chevron in the fourth quarter worth approximately $29,000. Fairway Wealth LLC increased its holdings in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after buying an additional 88 shares during the last quarter. Finally, IFS Advisors LLC raised its position in Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.0%

Shares of NYSE:CVX opened at $144.83 on Thursday. The firm has a market capitalization of $252.93 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a 50 day moving average price of $138.24 and a 200-day moving average price of $149.42. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.93 earnings per share. As a group, equities research analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CVX shares. Wells Fargo & Company lowered their price objective 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. Hsbc Global Res lowered Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. BNP Paribas downgraded Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Mizuho dropped their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Finally, TD Cowen decreased their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Chevron currently has an average rating of “Hold” and a consensus price target of $160.24.

About Chevron

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.