Fourth Dimension Wealth LLC Boosts Stake in Chevron Corporation (NYSE:CVX)

Fourth Dimension Wealth LLC lifted its holdings in Chevron Corporation (NYSE:CVX) by 78.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 495 shares of the oil and gas company’s stock after purchasing an additional 218 shares during the quarter. Fourth Dimension Wealth LLC’s holdings in Chevron were worth $83,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Sage Capital Advisors llc raised its stake in shares of Chevron by 2.2% in the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock worth $7,097,000 after purchasing an additional 919 shares during the last quarter. CCG Wealth Management LLC grew its holdings in shares of Chevron by 2.3% in the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock worth $1,060,000 after acquiring an additional 145 shares during the period. Pines Wealth Management LLC grew its holdings in shares of Chevron by 3.3% in the first quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company’s stock worth $1,306,000 after acquiring an additional 253 shares during the period. Viking Fund Management LLC grew its holdings in shares of Chevron by 9.3% in the first quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company’s stock worth $19,573,000 after acquiring an additional 10,000 shares during the period. Finally, Allianz SE bought a new stake in shares of Chevron in the fourth quarter worth $9,369,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on CVX. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $160.00 to $143.00 in a report on Friday, April 11th. BNP Paribas lowered Chevron to a “cautious” rating in a report on Tuesday, April 15th. Redburn Atlantic reaffirmed a “sell” rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Wells Fargo & Company cut their price objective on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Finally, TD Cowen cut their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. Three 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $160.24.

Chevron Stock Performance

NYSE:CVX opened at $143.67 on Wednesday. The stock has a 50-day simple moving average of $139.78 and a two-hundred day simple moving average of $148.49. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. 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 firm has a market capitalization of $250.90 billion, a PE ratio of 16.42, a P/E/G ratio of 2.58 and a beta of 0.83.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.93 earnings per share. Analysts forecast that Chevron Corporation 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. Stockholders of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is 78.17%.

Chevron 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.