Chevron Corporation (NYSE:CVX) Shares Bought by MN Wealth Advisors LLC

MN Wealth Advisors LLC raised its holdings in Chevron Corporation (NYSE:CVX) by 4.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,790 shares of the oil and gas company’s stock after purchasing an additional 121 shares during the quarter. MN Wealth Advisors LLC’s holdings in Chevron were worth $467,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CVX. IMG Wealth Management Inc. acquired a new position in shares of Chevron during the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Chevron during the fourth quarter worth about $29,000. 10Elms LLP acquired a new position in shares of Chevron during the fourth quarter worth about $29,000. Fairway Wealth LLC increased its stake 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 acquiring an additional 88 shares during the period. Finally, IFS Advisors LLC increased its stake in shares of Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 116 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and dropped their price target for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Barclays lowered shares of Chevron from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. DZ Bank lowered shares of 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. UBS Group lowered their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Finally, Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $160.24.

Chevron Stock Up 1.9%

Shares of NYSE CVX opened at $148.86 on Wednesday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a market capitalization of $259.97 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 2.56 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The firm’s 50-day moving average is $138.78 and its two-hundred day moving average is $148.91.

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. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter in the prior year, the firm earned $2.93 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. Equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 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.