B. Riley Wealth Advisors Inc. Reduces Position in Chevron Co. (NYSE:CVX)

B. Riley Wealth Advisors Inc. cut its holdings in shares of Chevron Co. (NYSE:CVX) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,570 shares of the oil and gas company’s stock after selling 5,396 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Chevron were worth $11,815,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Life Planning Partners Inc bought a new position in shares of Chevron in the fourth quarter worth about $25,000. IMG Wealth Management Inc. bought a new stake in Chevron during the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron during the 4th quarter valued at approximately $29,000. 10Elms LLP bought a new stake in Chevron during the 4th quarter valued at approximately $29,000. Finally, Fairway Wealth LLC grew its holdings in 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 hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Mizuho cut their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Wells Fargo & Company dropped their target price on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a report on Monday, May 5th. HSBC cut Chevron from a “buy” rating to a “hold” rating and dropped their price objective for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Truist Financial dropped their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Finally, Piper Sandler dropped their price objective on Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $160.24.

Chevron Trading Up 1.0%

CVX opened at $136.66 on Friday. The firm has a market cap of $238.66 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.46 and a beta of 0.83. 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 12 month low of $132.04 and a 12 month high of $168.96. The stock has a fifty day moving average price of $144.66 and a 200-day moving average price of $151.21.

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 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 firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same period in the previous year, the company posted $2.93 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 5.01%. The ex-dividend date is Monday, May 19th. Chevron’s dividend payout ratio is currently 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.