ORG Wealth Partners LLC Has $1.09 Million Holdings in Chevron Corporation (NYSE:CVX)

ORG Wealth Partners LLC lifted its stake in Chevron Corporation (NYSE:CVX) by 438.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,486 shares of the oil and gas company’s stock after buying an additional 5,281 shares during the period. ORG Wealth Partners LLC’s holdings in Chevron were worth $1,093,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CVX. IMG Wealth Management Inc. acquired a new position in shares of Chevron in the 4th quarter worth approximately $25,000. Life Planning Partners Inc acquired a new position in shares of Chevron in the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Chevron in the 4th quarter worth approximately $29,000. 10Elms LLP acquired a new position in shares of Chevron in the 4th quarter worth approximately $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 worth $30,000 after buying an additional 88 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Down 0.4%

Shares of CVX opened at $148.18 on Thursday. The firm has a market capitalization of $258.78 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 2.61 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The business’s fifty day moving average price is $138.82 and its two-hundred day moving average price is $148.90. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly 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. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period last year, the company earned $2.93 EPS. The firm’s revenue was down 2.3% on a year-over-year basis. On average, analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given 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 4.62%. Chevron’s dividend payout ratio is currently 78.17%.

Analysts Set New Price Targets

CVX has been the topic of a number of research analyst reports. Piper Sandler decreased their price target on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Hsbc Global Res lowered Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Redburn Atlantic restated a “sell” rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Wells Fargo & Company decreased their price target on Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Finally, BNP Paribas lowered Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus 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.