NewSquare Capital LLC Purchases 457 Shares of Chevron Co. (NYSE:CVX)

NewSquare Capital LLC boosted its stake in Chevron Co. (NYSE:CVX) by 714.1% during the first quarter, Holdings Channel reports. The institutional investor owned 521 shares of the oil and gas company’s stock after buying an additional 457 shares during the period. NewSquare Capital LLC’s holdings in Chevron were worth $87,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Greystone Financial Group LLC grew its stake in Chevron by 7.4% in the 1st quarter. Greystone Financial Group LLC now owns 60,477 shares of the oil and gas company’s stock valued at $10,117,000 after buying an additional 4,192 shares during the last quarter. Toth Financial Advisory Corp grew its stake in Chevron by 3.9% in the 1st quarter. Toth Financial Advisory Corp now owns 3,466 shares of the oil and gas company’s stock valued at $580,000 after buying an additional 131 shares during the last quarter. Courier Capital LLC grew its stake in Chevron by 0.5% in the 1st quarter. Courier Capital LLC now owns 62,072 shares of the oil and gas company’s stock valued at $10,384,000 after buying an additional 302 shares during the last quarter. Cherrydale Wealth Management LLC acquired a new position in Chevron in the 1st quarter valued at about $244,000. Finally, Priebe Wealth Holdings LLC grew its position in shares of Chevron by 11.7% during the 1st quarter. Priebe Wealth Holdings LLC now owns 1,775 shares of the oil and gas company’s stock worth $297,000 after purchasing an additional 186 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CVX. Redburn Atlantic restated a “sell” rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Wells Fargo & Company decreased their target price on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Barclays lowered shares of Chevron from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $171.00 to $152.00 in a research 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 for the company. in a report on Tuesday, May 6th. Finally, Piper Sandler cut their price target on shares of 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 issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $160.24.

Chevron Price Performance

Shares of NYSE:CVX opened at $140.76 on Tuesday. The company has a market cap of $245.82 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a 50 day simple moving average of $138.46 and a 200 day simple moving average of $149.50. Chevron Co. has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm’s revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.93 EPS. Research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.86%. The ex-dividend date is Monday, May 19th. Chevron’s 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.