Investmark Advisory Group LLC Raises Stake in Chevron Co. (NYSE:CVX)

by · The Cerbat Gem

Investmark Advisory Group LLC increased its stake in Chevron Co. (NYSE:CVX – Free Report) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,438 shares of the oil and gas company’s stock after purchasing an additional 210 shares during the quarter. Chevron makes up approximately 1.8% of Investmark Advisory Group LLC’s portfolio, making the stock its 15th biggest holding. Investmark Advisory Group LLC’s holdings in Chevron were worth $3,684,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Regent Peak Wealth Advisors LLC lifted its holdings in Chevron by 4.3% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 4,117 shares of the oil and gas company’s stock worth $596,000 after purchasing an additional 168 shares in the last quarter. Capital & Planning LLC raised its position in shares of Chevron by 15.2% in the fourth quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company’s stock worth $243,000 after buying an additional 222 shares in the last quarter. Zhang Financial LLC grew its position in Chevron by 9.2% during the fourth quarter. Zhang Financial LLC now owns 3,477 shares of the oil and gas company’s stock worth $504,000 after buying an additional 293 shares in the last quarter. Harbor Investment Advisory LLC increased its stake in Chevron by 0.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 18,167 shares of the oil and gas company’s stock worth $2,631,000 after acquiring an additional 144 shares during the last quarter. Finally, Wealthquest Corp boosted its position in shares of Chevron by 1.8% during the 4th quarter. Wealthquest Corp now owns 5,317 shares of the oil and gas company’s stock valued at $770,000 after acquiring an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CVX shares. UBS Group cut their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. TD Cowen reduced their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Truist Financial cut their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Finally, Redburn Atlantic reaffirmed a “sell” rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $160.24.

Get Our Latest Stock Report on CVX

Chevron Trading Down 1.2%

CVX opened at $135.57 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a market cap of $236.75 billion, a PE ratio of 13.95, a PEG ratio of 1.46 and a beta of 0.83. The business has a 50 day moving average of $145.61 and a 200-day moving average of $151.50.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. Chevron’s revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.93 EPS. Equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s dividend payout ratio (DPR) is 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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