Hibernia Wealth Partners LLC Increases Position in Chevron Corporation (NYSE:CVX)

Hibernia Wealth Partners LLC raised its position in shares of Chevron Corporation (NYSE:CVX) by 28.9% during the first quarter, HoldingsChannel reports. The firm owned 2,225 shares of the oil and gas company’s stock after purchasing an additional 499 shares during the period. Hibernia Wealth Partners LLC’s holdings in Chevron were worth $372,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on CVX shares. UBS Group reduced their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Redburn Atlantic reissued a “sell” rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a research note on Tuesday, May 6th. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. Finally, Piper Sandler cut their price target on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Chevron has a consensus rating of “Hold” and an average target price of $160.29.

Chevron Stock Performance

Chevron stock opened at $144.40 on Friday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock’s 50 day simple moving average is $140.08 and its two-hundred day simple moving average is $148.37. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The stock has a market cap of $252.18 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 2.51 and a beta of 0.83.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.93 earnings per share. As a group, analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio is presently 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.