Wealth Alliance Advisory Group LLC Has $3.63 Million Stock Position in Chevron Co. (NYSE:CVX)

Wealth Alliance Advisory Group LLC boosted its position in Chevron Co. (NYSE:CVX) by 1.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 21,689 shares of the oil and gas company’s stock after acquiring an additional 358 shares during the quarter. Chevron makes up approximately 0.8% of Wealth Alliance Advisory Group LLC’s investment portfolio, making the stock its 29th largest holding. Wealth Alliance Advisory Group LLC’s holdings in Chevron were worth $3,628,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. IMG Wealth Management Inc. bought a new position in shares of Chevron in the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron in the 4th quarter valued at approximately $29,000. 10Elms LLP bought a new position in Chevron in the 4th quarter worth approximately $29,000. Fairway Wealth LLC lifted its holdings in shares of Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after buying an additional 88 shares during the last quarter. Finally, IFS Advisors LLC boosted its position in shares of Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 116 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CVX. Truist Financial dropped their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Wells Fargo & Company cut their price objective on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Redburn Atlantic reissued a “sell” rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. 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. Finally, TD Cowen decreased their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, May 5th. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $160.24.

Chevron Stock Performance

Chevron stock opened at $139.55 on Wednesday. The firm has a market capitalization of $243.71 billion, a P/E ratio of 14.36, a P/E/G ratio of 1.46 and a beta of 0.83. The stock has a fifty day moving average price of $140.73 and a two-hundred day moving average price of $150.20. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

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

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.90%. The ex-dividend date is Monday, May 19th. Chevron’s payout ratio is 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.