Chevron Corporation (NYSE:CVX) Shares Bought by Providence Wealth Advisors LLC

by · The Cerbat Gem

Providence Wealth Advisors LLC boosted its position in shares of Chevron Corporation (NYSE:CVX – Free Report) by 7.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,167 shares of the oil and gas company’s stock after buying an additional 1,022 shares during the quarter. Chevron makes up 1.9% of Providence Wealth Advisors LLC’s holdings, making the stock its 16th biggest position. Providence Wealth Advisors LLC’s holdings in Chevron were worth $2,540,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. 10Elms LLP purchased a new position in Chevron during the fourth quarter valued at $29,000. IFS Advisors LLC lifted its holdings in Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 116 shares in the last quarter. Navigoe LLC purchased a new position in Chevron during the fourth quarter valued at $33,000. Cloud Capital Management LLC purchased a new position in Chevron during the first quarter valued at $39,000. Finally, Investment Management Corp VA ADV lifted its stake in shares of Chevron by 171.3% in the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after buying an additional 149 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CVX shares. Redburn Atlantic reissued a “sell” rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and decreased their price target for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target on the stock. in a research note on Tuesday, May 6th. Barclays reissued an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Finally, Mizuho decreased their price target on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Hold” and an average target price of $162.13.

Check Out Our Latest Stock Report on Chevron

Chevron Price Performance

Shares of CVX stock opened at $154.84 on Friday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a market capitalization of $270.40 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 2.44 and a beta of 0.83. The firm’s 50-day moving average is $145.12 and its two-hundred day moving average is $148.82. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82.

Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. During the same period last year, the business earned $2.93 earnings per share. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. Analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio is presently 78.17%.

Chevron Profile

(Free Report)

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.

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