Successful Portfolios LLC Grows Stake in Chevron Co. (NYSE:CVX)

Successful Portfolios LLC boosted its position in Chevron Co. (NYSE:CVX) by 2.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 3,433 shares of the oil and gas company’s stock after buying an additional 96 shares during the period. Successful Portfolios LLC’s holdings in Chevron were worth $574,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. TFB Advisors LLC increased its position in Chevron by 2.4% during the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock worth $411,000 after buying an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. boosted its holdings in shares of Chevron by 1.4% during the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock worth $677,000 after purchasing an additional 66 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Chevron by 0.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock worth $2,207,000 after purchasing an additional 66 shares during the last quarter. Berkeley Capital Partners LLC boosted its holdings in shares of Chevron by 0.4% during the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock worth $2,572,000 after purchasing an additional 67 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC boosted its holdings in shares of Chevron by 6.1% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company’s stock worth $171,000 after purchasing an additional 68 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CVX shares. Redburn Atlantic restated a “sell” rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. BNP Paribas cut Chevron to a “cautious” rating in a report on Tuesday, April 15th. Hsbc Global Res cut Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. UBS Group reduced their target price on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Finally, Piper Sandler reduced their target price on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Chevron has an average rating of “Hold” and an average target price of $160.24.

Chevron Stock Up 2.4%

Shares of Chevron stock opened at $140.21 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market cap of $244.86 billion, a P/E ratio of 14.42, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The business has a 50-day moving average price of $138.98 and a 200 day moving average price of $149.81.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. Chevron’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.93 earnings per share. On average, sell-side analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.88%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s dividend payout ratio is currently 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.