Kiley Juergens Wealth Management LLC Raises Position in Chevron Corporation (NYSE:CVX)

Kiley Juergens Wealth Management LLC grew its position in Chevron Corporation (NYSE:CVX) by 5.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,124 shares of the oil and gas company’s stock after purchasing an additional 690 shares during the quarter. Kiley Juergens Wealth Management LLC’s holdings in Chevron were worth $2,363,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of Chevron by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock valued at $5,247,142,000 after purchasing an additional 392,916 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Chevron by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after acquiring an additional 746,806 shares in the last quarter. Norges Bank acquired a new stake in Chevron during the 4th quarter worth $3,017,750,000. Northern Trust Corp raised its stake in Chevron by 7.3% during the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock worth $2,965,135,000 after acquiring an additional 1,394,091 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in Chevron by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock worth $2,881,280,000 after acquiring an additional 410,460 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CVX. Piper Sandler cut their price target on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Redburn Atlantic reiterated a “sell” rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Barclays lowered shares of Chevron from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and cut their price target for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company dropped their price objective on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Chevron currently has an average rating of “Hold” and a consensus price target of $160.24.

Chevron Stock Up 1.9%

Shares of NYSE:CVX opened at $148.86 on Wednesday. The company has a market cap of $259.97 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 2.56 and a beta of 0.83. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm’s 50-day simple moving average is $138.78 and its 200-day simple moving average is $148.91. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.93 earnings per share. As a group, equities research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date was Monday, May 19th. Chevron’s dividend 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.