Chevron Co. (NYSE:CVX) Stock Holdings Raised by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC boosted its position in shares of Chevron Co. (NYSE:CVX) by 0.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,536 shares of the oil and gas company’s stock after acquiring an additional 188 shares during the period. Chevron accounts for about 2.4% of Alpha Omega Wealth Management LLC’s holdings, making the stock its 4th biggest position. Alpha Omega Wealth Management LLC’s holdings in Chevron were worth $12,636,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVX. McKinley Carter Wealth Services Inc. increased its position in shares of Chevron by 3.3% in the first quarter. McKinley Carter Wealth Services Inc. now owns 21,012 shares of the oil and gas company’s stock worth $3,515,000 after purchasing an additional 667 shares during the last quarter. Trinity Financial Advisors LLC lifted its position in Chevron by 34.8% during the first quarter. Trinity Financial Advisors LLC now owns 1,900 shares of the oil and gas company’s stock valued at $318,000 after purchasing an additional 490 shares during the last quarter. Laurel Wealth Advisors LLC grew its stake in Chevron by 0.4% in the 1st quarter. Laurel Wealth Advisors LLC now owns 26,040 shares of the oil and gas company’s stock worth $4,356,000 after buying an additional 116 shares in the last quarter. Virginia Wealth Management Group Inc. grew its stake in Chevron by 3.5% in the 1st quarter. Virginia Wealth Management Group Inc. now owns 24,539 shares of the oil and gas company’s stock worth $4,105,000 after buying an additional 823 shares in the last quarter. Finally, Mainsail Financial Group LLC increased its holdings in shares of Chevron by 5.9% in the 1st quarter. Mainsail Financial Group LLC now owns 6,252 shares of the oil and gas company’s stock worth $1,046,000 after buying an additional 347 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. BNP Paribas downgraded shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Hsbc Global Res downgraded Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Piper Sandler dropped their price target on 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 Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Finally, Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $160.00 to $143.00 in a report on Friday, April 11th. Three equities 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. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Hold” and an average price target of $160.24.

Chevron Stock Up 1.9%

Shares of NYSE CVX opened at $143.40 on Wednesday. The firm’s fifty day moving average is $138.21 and its 200 day moving average is $149.46. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market cap of $250.43 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company’s revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.93 EPS. On average, equities research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.77%. 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.