Fourth Dimension Wealth LLC Acquires 218 Shares of Chevron Corporation (NYSE:CVX)

Fourth Dimension Wealth LLC lifted its holdings in Chevron Corporation (NYSE:CVX) by 78.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 495 shares of the oil and gas company’s stock after acquiring an additional 218 shares during the period. Fourth Dimension Wealth LLC’s holdings in Chevron were worth $83,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CVX. IMG Wealth Management Inc. purchased a new stake in shares of Chevron in the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Chevron in the fourth quarter worth about $29,000. 10Elms LLP purchased a new stake in shares of Chevron in the fourth quarter worth about $29,000. Fairway Wealth LLC lifted its position in shares of 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 buying an additional 88 shares in the last quarter. Finally, IFS Advisors LLC lifted its position in shares of Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after buying an additional 116 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of a number of research analyst reports. Wells Fargo & Company decreased their target price on Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Piper Sandler decreased their target price on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Mizuho decreased their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. TD Cowen decreased their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Finally, Barclays lowered Chevron from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $160.24.

Chevron Trading Down 2.2%

CVX opened at $143.67 on Wednesday. The stock has a market cap of $250.90 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 2.58 and a beta of 0.83. The stock’s 50 day moving average price is $139.78 and its 200-day moving average price is $148.49. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 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 analysts’ expectations of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.93 earnings per share. On average, equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid 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 4.76%. Chevron’s dividend payout ratio is 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.