1900 Wealth Management LLC Raises Stock Holdings in Chevron Co. (NYSE:CVX)

1900 Wealth Management LLC increased its position in Chevron Co. (NYSE:CVX) by 2.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,212 shares of the oil and gas company’s stock after purchasing an additional 180 shares during the period. 1900 Wealth Management LLC’s holdings in Chevron were worth $1,206,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. IMG Wealth Management Inc. purchased a new stake in Chevron in the fourth quarter worth $25,000. Life Planning Partners Inc purchased a new stake in Chevron in the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Chevron in the fourth quarter worth $29,000. 10Elms LLP purchased a new stake in Chevron in the fourth quarter worth $29,000. Finally, Fairway Wealth LLC grew its stake in Chevron by 75.9% in 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. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVX has been the topic of several recent research reports. Wells Fargo & Company reduced their price target on Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target on the stock. in a research note on Tuesday, May 6th. Barclays cut Chevron from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Piper Sandler cut their target price on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Finally, Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Three investment 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. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $160.24.

Chevron Trading Up 0.5%

Shares of NYSE:CVX opened at $145.74 on Monday. The company has a market cap of $254.52 billion, a P/E ratio of 14.99, a PEG 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. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The stock’s fifty day moving average price is $138.53 and its 200-day moving average price is $149.02.

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 analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion for 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 company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.93 earnings per share. Sell-side analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date was Monday, May 19th. Chevron’s payout ratio 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.