MJP Associates Inc. ADV Purchases 704 Shares of Chevron Co. (NYSE:CVX)

MJP Associates Inc. ADV raised its stake in Chevron Co. (NYSE:CVX) by 21.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,952 shares of the oil and gas company’s stock after buying an additional 704 shares during the period. MJP Associates Inc. ADV’s holdings in Chevron were worth $572,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CVX. IMG Wealth Management Inc. acquired a new position in shares of Chevron during the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Chevron during the fourth quarter worth $29,000. Fairway Wealth LLC lifted its holdings in shares of 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 purchasing an additional 88 shares during the period. Navigoe LLC acquired a new position in shares of Chevron during the fourth quarter worth $33,000. Finally, New Wave Wealth Advisors LLC acquired a new position in shares of Chevron during the fourth quarter worth $39,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CVX. Raymond James lowered their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. UBS Group lowered their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. BNP Paribas downgraded shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Truist Financial dropped their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Finally, Wells Fargo & Company dropped their price objective on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $161.25.

Chevron Trading Up 1.1%

Shares of CVX stock opened at $138.52 on Monday. The company’s fifty day simple moving average is $147.91 and its two-hundred day simple moving average is $152.07. 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 Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The stock has a market capitalization of $243.88 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.93 EPS. As a group, analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.94%. Chevron’s dividend payout ratio (DPR) is currently 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.