Chevron Co. (NYSE:CVX) Holdings Decreased by Transform Wealth LLC

Transform Wealth LLC decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 0.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,885 shares of the oil and gas company’s stock after selling 552 shares during the quarter. Chevron accounts for approximately 0.9% of Transform Wealth LLC’s holdings, making the stock its 27th biggest position. Transform Wealth LLC’s holdings in Chevron were worth $15,371,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Virginia Wealth Management Group Inc. grew its holdings in shares of Chevron by 3.5% during the first quarter. Virginia Wealth Management Group Inc. now owns 24,539 shares of the oil and gas company’s stock valued at $4,105,000 after buying an additional 823 shares in the last quarter. Mainsail Financial Group LLC grew its holdings in shares of Chevron by 5.9% during the first quarter. Mainsail Financial Group LLC now owns 6,252 shares of the oil and gas company’s stock valued at $1,046,000 after buying an additional 347 shares in the last quarter. Donaldson Capital Management LLC grew its holdings in shares of Chevron by 1.7% during the first quarter. Donaldson Capital Management LLC now owns 255,045 shares of the oil and gas company’s stock valued at $42,667,000 after buying an additional 4,172 shares in the last quarter. Bard Financial Services Inc. grew its stake in Chevron by 0.5% in the first quarter. Bard Financial Services Inc. now owns 63,035 shares of the oil and gas company’s stock valued at $10,545,000 after purchasing an additional 300 shares in the last quarter. Finally, Curbstone Financial Management Corp grew its stake in Chevron by 15.5% in the first quarter. Curbstone Financial Management Corp now owns 16,112 shares of the oil and gas company’s stock valued at $2,695,000 after purchasing an additional 2,168 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

NYSE CVX opened at $143.40 on Wednesday. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market capitalization of $250.43 billion, a PE ratio of 14.75, a P/E/G ratio of 1.46 and a beta of 0.83. The stock has a 50-day simple moving average of $138.21 and a 200 day simple moving average of $149.46.

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

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.77%. Chevron’s dividend payout ratio is presently 78.17%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Piper Sandler lowered their target price on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Barclays downgraded Chevron from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. UBS Group lowered their target price on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. DZ Bank downgraded Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a research note on Tuesday, May 6th. Finally, HSBC downgraded Chevron from a “buy” rating to a “hold” rating and lowered their target price for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $160.24.

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.