ORG Wealth Partners LLC Buys 5,281 Shares of Chevron Corporation (NYSE:CVX)

ORG Wealth Partners LLC increased its holdings in shares of Chevron Corporation (NYSE:CVX) by 438.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,486 shares of the oil and gas company’s stock after acquiring an additional 5,281 shares during the quarter. ORG Wealth Partners LLC’s holdings in Chevron were worth $1,093,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Sage Capital Advisors llc raised its stake in shares of Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock valued at $7,097,000 after purchasing an additional 919 shares during the period. Pines Wealth Management LLC increased its position in shares of Chevron by 3.3% in the first quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company’s stock valued at $1,306,000 after acquiring an additional 253 shares during the last quarter. Viking Fund Management LLC increased its position in shares of Chevron by 9.3% in the first quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company’s stock valued at $19,573,000 after acquiring an additional 10,000 shares during the last quarter. Allianz SE acquired a new stake in shares of Chevron in the fourth quarter valued at about $9,369,000. Finally, Nicholas Company Inc. grew its holdings in Chevron by 4.3% during the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock worth $11,591,000 after purchasing an additional 3,280 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CVX. Mizuho lowered their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a research note on Tuesday, May 6th. BNP Paribas cut Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Piper Sandler cut their target price on Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. Finally, UBS Group dropped their price target on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $160.24.

Chevron Price Performance

Chevron stock opened at $148.18 on Thursday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The stock has a market cap of $258.78 billion, a P/E ratio of 16.93, a P/E/G ratio of 2.61 and a beta of 0.83. The company’s 50 day moving average price is $138.82 and its two-hundred day moving average price is $148.90. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last issued its 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. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter in the previous year, the firm posted $2.93 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.62%. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

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.