MBA Advisors LLC Buys 225 Shares of Chevron Corporation (NYSE:CVX)

MBA Advisors LLC raised its stake in shares of Chevron Corporation (NYSE:CVXFree Report) by 4.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,991 shares of the oil and gas company’s stock after buying an additional 225 shares during the period. MBA Advisors LLC’s holdings in Chevron were worth $835,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. IMG Wealth Management Inc. bought a new position in shares of Chevron in the 4th quarter worth approximately $25,000. Life Planning Partners Inc purchased a new position in shares of Chevron during the 4th quarter valued at about $25,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron in the fourth quarter worth approximately $29,000. 10Elms LLP bought a new stake in shares of Chevron during the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC lifted its stake in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 88 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Trading Up 0.2%

Shares of CVX stock opened at $148.23 on Friday. The company has a market cap of $258.86 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 2.52 and a beta of 0.83. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The stock’s 50 day simple moving average is $140.97 and its two-hundred day simple moving average is $148.07. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82.

Chevron (NYSE:CVXGet Free Report) 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%. Chevron’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.93 EPS. Research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio is currently 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of analyst reports. Redburn Atlantic reiterated a “sell” rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Piper Sandler lifted their target price on Chevron from $162.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday. DZ Bank downgraded 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. Mizuho reduced their price objective on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Finally, Barclays cut shares of Chevron from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron has an average rating of “Hold” and a consensus price target of $160.41.

View Our Latest Research Report on Chevron

Chevron Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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