RMR Wealth Builders Boosts Position in Chevron Co. (NYSE:CVX)

RMR Wealth Builders grew its position in shares of Chevron Co. (NYSE:CVX) by 10.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,064 shares of the oil and gas company’s stock after purchasing an additional 1,969 shares during the quarter. RMR Wealth Builders’ holdings in Chevron were worth $3,357,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Sage Capital Advisors llc lifted its position in Chevron by 2.2% in the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock valued at $7,097,000 after buying an additional 919 shares during the last quarter. Viking Fund Management LLC increased its stake in Chevron by 9.3% in the first quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company’s stock valued at $19,573,000 after purchasing an additional 10,000 shares during the last quarter. Pines Wealth Management LLC increased its stake in Chevron by 3.3% in the first quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company’s stock valued at $1,306,000 after purchasing an additional 253 shares during the last quarter. Allianz SE purchased a new position in Chevron in the fourth quarter valued at approximately $9,369,000. Finally, Nicholas Company Inc. increased its stake in Chevron by 4.3% in the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock valued at $11,591,000 after purchasing an additional 3,280 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of CVX stock opened at $144.90 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a 50-day moving average of $138.35 and a 200-day moving average of $149.32. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The stock has a market cap of $253.05 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83.

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

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s payout ratio is 78.17%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. UBS Group lowered their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. TD Cowen cut 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. Mizuho cut 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. HSBC cut Chevron from a “buy” rating to a “hold” rating and lowered their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Finally, Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock 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 issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.