Floyd Financial Group LLC Increases Holdings in Chevron Co. (NYSE:CVX)

Floyd Financial Group LLC lifted its holdings in Chevron Co. (NYSE:CVX) by 4.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,233 shares of the oil and gas company’s stock after acquiring an additional 133 shares during the period. Floyd Financial Group LLC’s holdings in Chevron were worth $541,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CVX. Capital & Planning LLC increased its holdings in Chevron by 15.2% in the 4th 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 during the last quarter. Eagle Capital Management LLC grew its position in shares of Chevron by 0.7% during the fourth 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 in the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Chevron in the fourth quarter worth about $8,947,000. KPP Advisory Services LLC lifted its position in shares of Chevron by 4.0% in the fourth quarter. KPP Advisory Services LLC now owns 2,835 shares of the oil and gas company’s stock worth $411,000 after buying an additional 110 shares in the last quarter. Finally, Brentview Investment Management LLC purchased a new stake in shares of Chevron in the fourth quarter worth about $5,625,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $139.55 on Wednesday. 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 stock’s fifty day moving average is $140.73 and its two-hundred day moving average is $150.20. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a market capitalization of $243.71 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 8.71% and a return on equity of 11.44%. The business’s revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.93 earnings per share. As a group, analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.90%. Chevron’s dividend payout ratio is currently 78.17%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. UBS Group reduced their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Redburn Atlantic reissued a “sell” rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target 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 objective for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Finally, Piper Sandler dropped their price objective on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $160.24.

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.