Virginia Wealth Management Group Inc. Has $4.11 Million Stock Position in Chevron Co. (NYSE:CVX)

Virginia Wealth Management Group Inc. lifted its stake in Chevron Co. (NYSE:CVX) by 3.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,539 shares of the oil and gas company’s stock after purchasing an additional 823 shares during the quarter. Chevron accounts for about 2.5% of Virginia Wealth Management Group Inc.’s investment portfolio, making the stock its 19th largest holding. Virginia Wealth Management Group Inc.’s holdings in Chevron were worth $4,105,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital & Planning LLC boosted its position in Chevron by 15.2% during the 4th quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company’s stock worth $243,000 after acquiring an additional 222 shares during the period. Eagle Capital Management LLC boosted its position in Chevron by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock worth $5,011,000 after acquiring an additional 242 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in Chevron during the 4th quarter worth about $8,947,000. Principle Wealth Partners LLC boosted its position in Chevron by 0.5% during the 4th quarter. Principle Wealth Partners LLC now owns 39,102 shares of the oil and gas company’s stock worth $5,664,000 after acquiring an additional 199 shares during the period. Finally, Pineridge Advisors LLC boosted its position in Chevron by 286.7% during the 4th quarter. Pineridge Advisors LLC now owns 1,253 shares of the oil and gas company’s stock worth $181,000 after acquiring an additional 929 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 1.9%

Shares of CVX stock opened at $143.40 on Wednesday. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The firm’s fifty day simple moving average is $138.21 and its 200 day simple moving average is $149.46. The firm has a market capitalization of $250.43 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

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

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date 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 currently 78.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CVX shares. DZ Bank lowered Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a report on Tuesday, May 6th. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and cut their price objective for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Wells Fargo & Company cut their price objective on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. BNP Paribas lowered shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Finally, Mizuho cut their price objective on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus price target of $160.24.

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.