Inman Jager Wealth Management LLC Increases Position in Chevron Corporation (NYSE:CVX)

Inman Jager Wealth Management LLC increased its holdings in shares of Chevron Corporation (NYSE:CVX) by 4.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,394 shares of the oil and gas company’s stock after purchasing an additional 671 shares during the quarter. Chevron makes up about 2.2% of Inman Jager Wealth Management LLC’s investment portfolio, making the stock its 10th biggest holding. Inman Jager Wealth Management LLC’s holdings in Chevron were worth $2,910,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. IMG Wealth Management Inc. acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $25,000. Life Planning Partners Inc bought a new stake in Chevron during the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron during the fourth quarter worth $29,000. 10Elms LLP acquired a new stake in Chevron in the fourth quarter valued at $29,000. Finally, Fairway Wealth LLC grew its position 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 valued at $30,000 after acquiring an additional 88 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CVX. UBS Group dropped their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. TD Cowen dropped their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Mizuho cut their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. BNP Paribas downgraded Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company dropped 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. Three research 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $160.24.

Chevron Stock Down 0.0%

CVX opened at $143.49 on Thursday. The stock has a fifty day moving average of $139.95 and a 200-day moving average of $148.45. The company has a market capitalization of $250.59 billion, a P/E ratio of 16.40, a P/E/G ratio of 2.52 and a beta of 0.83. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week 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 quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. Chevron’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the firm earned $2.93 earnings per share. On average, equities analysts expect that Chevron Corporation will post 10.79 EPS 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 given a $1.71 dividend. 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 4.77%. Chevron’s payout ratio is 78.17%.

Chevron 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.