Chevron Co. (NYSE:CVX) Position Boosted by Fortitude Advisory Group L.L.C.

Fortitude Advisory Group L.L.C. raised its holdings in shares of Chevron Co. (NYSE:CVX) by 6.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,493 shares of the oil and gas company’s stock after acquiring an additional 278 shares during the period. Fortitude Advisory Group L.L.C.’s holdings in Chevron were worth $752,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Capital & Planning LLC boosted its holdings in shares of Chevron by 15.2% in the fourth quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company’s stock valued at $243,000 after acquiring an additional 222 shares in the last quarter. Eagle Capital Management LLC increased its position in shares of Chevron by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock valued at $5,011,000 after purchasing an additional 242 shares during the period. Union Bancaire Privee UBP SA bought a new stake in shares of Chevron in the 4th quarter worth $8,947,000. Bank Pictet & Cie Europe AG lifted its holdings in shares of Chevron by 7.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock valued at $5,212,000 after buying an additional 2,641 shares during the period. Finally, Strategic Financial Concepts LLC grew its holdings in Chevron by 212.4% during the fourth quarter. Strategic Financial Concepts LLC now owns 5,352 shares of the oil and gas company’s stock worth $775,000 after acquiring an additional 3,639 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective for the company. in a research report on Tuesday, May 6th. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Redburn Atlantic reaffirmed a “sell” rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and dropped their target price for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Finally, Piper Sandler reduced their price target on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $160.24.

Chevron Price Performance

CVX opened at $146.07 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The stock has a fifty day moving average price of $138.72 and a 200 day moving average price of $148.91. The stock has a market cap of $255.09 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter in the previous year, the business posted $2.93 EPS. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. Analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s payout ratio is presently 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.