Northwest Quadrant Wealth Management LLC Decreases Position in Chevron Co. (NYSE:CVX)

Northwest Quadrant Wealth Management LLC decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,825 shares of the oil and gas company’s stock after selling 122 shares during the quarter. Chevron makes up approximately 0.2% of Northwest Quadrant Wealth Management LLC’s portfolio, making the stock its 21st biggest position. Northwest Quadrant Wealth Management LLC’s holdings in Chevron were worth $989,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new position in Chevron during the fourth quarter worth approximately $25,000. IMG Wealth Management Inc. acquired a new position in Chevron during the fourth quarter worth approximately $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron during the fourth quarter worth approximately $29,000. Fairway Wealth LLC increased its position in Chevron by 75.9% during the fourth 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 during the period. Finally, Navigoe LLC acquired a new position in Chevron during the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the topic of several research analyst reports. Redburn Atlantic reaffirmed a “sell” rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. DZ Bank lowered Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a report on Tuesday, May 6th. Piper Sandler dropped their target price on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday. Mizuho dropped their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, TD Cowen dropped their target price on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, May 5th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $160.24.

Chevron Trading Up 0.5%

Shares of CVX stock opened at $142.31 on Wednesday. The business’s fifty day moving average price is $147.51 and its 200 day moving average price is $151.94. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a market capitalization of $250.55 billion, a PE ratio of 14.64, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last announced 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. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the prior year, the company posted $2.93 earnings per share. Chevron’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, sell-side analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date is Monday, May 19th. Chevron’s dividend payout ratio is presently 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.