Chevron Co. (NYSE:CVX) Shares Bought by Successful Portfolios LLC

Successful Portfolios LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 2.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund 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 quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Life Planning Partners Inc acquired a new position in shares of Chevron in the 4th quarter valued at $25,000. IMG Wealth Management Inc. acquired a new position in shares of Chevron in the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Chevron in the 4th quarter valued at $29,000. 10Elms LLP acquired a new position in shares of Chevron in the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC raised its holdings in shares of Chevron by 75.9% in 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 during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CVX. Redburn Atlantic reiterated a “sell” rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $160.00 to $143.00 in a report on Friday, April 11th. Barclays downgraded Chevron from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. TD Cowen cut 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. Finally, Hsbc Global Res downgraded Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Three equities 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.com, the stock has a consensus rating of “Hold” and a consensus target price of $160.24.

Chevron Stock Performance

Shares of CVX stock opened at $140.21 on Friday. The company has a market cap of $244.86 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The stock has a 50 day simple moving average of $138.98 and a 200-day simple moving average of $149.81. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. 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 (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, topping analysts’ consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.93 EPS. On average, equities analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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 paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.88%. The ex-dividend date is Monday, May 19th. Chevron’s payout ratio is currently 78.17%.

Chevron Company 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.