Chevron Corporation (NYSE:CVX) Shares Acquired by Strategic Investment Advisors MI

Strategic Investment Advisors MI lifted its stake in shares of Chevron Corporation (NYSE:CVX) by 12.8% during the first quarter, Holdings Channel.com reports. The fund owned 1,729 shares of the oil and gas company’s stock after purchasing an additional 196 shares during the period. Strategic Investment Advisors MI’s holdings in Chevron were worth $289,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. IMG Wealth Management Inc. bought a new stake in Chevron during the fourth quarter worth approximately $25,000. Life Planning Partners Inc purchased a new stake in Chevron in the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Chevron in the 4th quarter worth approximately $29,000. 10Elms LLP purchased a new stake in Chevron in the 4th quarter worth approximately $29,000. Finally, Fairway Wealth LLC lifted its position in 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. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Down 0.0%

Shares of CVX opened at $143.49 on Thursday. 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 company has a 50-day simple moving average of $139.95 and a 200-day simple moving average of $148.45. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The firm has a market capitalization of $250.59 billion, a P/E ratio of 16.40, a P/E/G ratio of 2.52 and a beta of 0.83.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period in the previous year, the company posted $2.93 earnings per share. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. On average, equities research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid 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 yield of 4.77%. Chevron’s dividend payout ratio is 78.17%.

Analysts Set New Price Targets

Several research firms recently issued reports on CVX. Mizuho reduced their price objective on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Piper Sandler reduced their price objective on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. Wells Fargo & Company reduced their price objective on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Finally, HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and dropped their target price for the stock from $176.00 to $158.00 in a report 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 assigned a buy rating to the company’s stock. According to MarketBeat, Chevron currently has a consensus rating of “Hold” and a consensus price target 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.