1900 Wealth Management LLC Purchases 180 Shares of Chevron Co. (NYSE:CVX)

1900 Wealth Management LLC lifted its position in Chevron Co. (NYSE:CVX) by 2.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,212 shares of the oil and gas company’s stock after purchasing an additional 180 shares during the quarter. 1900 Wealth Management LLC’s holdings in Chevron were worth $1,206,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. IMG Wealth Management Inc. bought a new position in Chevron in the fourth quarter valued at $25,000. Life Planning Partners Inc bought a new position in Chevron in the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron in the fourth quarter valued at $29,000. 10Elms LLP bought a new position in Chevron in the fourth quarter valued at $29,000. Finally, Fairway Wealth LLC increased its stake in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 88 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.5%

NYSE CVX opened at $145.74 on Monday. 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 stock has a market capitalization of $254.52 billion, a PE ratio of 14.99, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The business’s 50-day moving average is $138.53 and its 200 day moving average is $149.02.

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

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.69%. Chevron’s payout ratio is presently 78.17%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Mizuho reduced their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. UBS Group reduced 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. BNP Paribas cut Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Finally, Piper Sandler lowered their target price on 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 assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron presently has an average rating of “Hold” and an average target price of $160.24.

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.