Net Worth Advisory Group Boosts Holdings in Chevron Co. (NYSE:CVX)

Net Worth Advisory Group boosted its position in shares of Chevron Co. (NYSE:CVX) by 31.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,002 shares of the oil and gas company’s stock after buying an additional 1,419 shares during the quarter. Net Worth Advisory Group’s holdings in Chevron were worth $1,004,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of CVX. Norges Bank purchased a new position in Chevron during the fourth quarter worth $3,017,750,000. Raymond James Financial Inc. purchased a new position in Chevron during the fourth quarter worth $1,036,302,000. GAMMA Investing LLC boosted its stake in Chevron by 21,191.5% during the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock worth $904,746,000 after buying an additional 5,382,847 shares during the period. Bank of New York Mellon Corp boosted its stake in Chevron by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after buying an additional 2,432,756 shares during the period. Finally, Amundi boosted its stake in Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock worth $1,323,549,000 after buying an additional 1,910,262 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on CVX shares. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Piper Sandler lowered their target price on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. Mizuho lowered their target price on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. TD Cowen lowered their target price 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, Barclays downgraded Chevron from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Three investment 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. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Hold” and an average target price of $160.24.

Chevron Stock Performance

Shares of Chevron stock opened at $144.83 on Thursday. The company has a market capitalization of $252.93 billion, a PE ratio of 14.90, 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 quick ratio of 0.80 and a current ratio of 1.07. The company has a 50-day simple moving average of $138.24 and a two-hundred day simple moving average of $149.42. Chevron Co. has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.93 earnings per share. Research analysts expect that Chevron Co. 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. Shareholders of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.72%. Chevron’s dividend payout ratio is presently 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.