Chevron Corporation (NYSE:CVX) Shares Purchased by Golden State Wealth Management LLC

Golden State Wealth Management LLC raised its position in Chevron Corporation (NYSE:CVX) by 128.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 17,357 shares of the oil and gas company’s stock after buying an additional 9,761 shares during the quarter. Golden State Wealth Management LLC’s holdings in Chevron were worth $2,905,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. IMG Wealth Management Inc. acquired a new position in shares of Chevron during the fourth quarter worth about $25,000. Life Planning Partners Inc acquired a new stake in Chevron in the fourth quarter valued at about $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Chevron in the 4th quarter valued at approximately $29,000. 10Elms LLP acquired a new position in Chevron during the 4th quarter worth approximately $29,000. Finally, Fairway Wealth LLC raised its stake in shares of Chevron by 75.9% during 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. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CVX. Barclays downgraded Chevron from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. UBS Group decreased their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Wells Fargo & Company cut their price target on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a report on Monday, May 5th. TD Cowen reduced their price objective on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, May 5th. Finally, Piper Sandler lowered their target price on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Hold” and a consensus target price of $160.24.

Chevron Trading Down 0.0%

Shares of Chevron stock opened at $143.49 on Thursday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The business has a 50 day moving average price of $139.95 and a 200 day moving average price of $148.45. The company 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 released its quarterly earnings results 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. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. During the same period in the previous year, the firm posted $2.93 earnings per share. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company 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. This represents a $6.84 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s payout ratio 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.