Cornerstone Advisory LLC Boosts Stock Position in Chevron Co. (NYSE:CVX)

by · The Cerbat Gem

Cornerstone Advisory LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX – Free Report) by 27.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,060 shares of the oil and gas company’s stock after acquiring an additional 1,104 shares during the quarter. Cornerstone Advisory LLC’s holdings in Chevron were worth $786,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CVX. Life Planning Partners Inc purchased a new position in Chevron during the 4th quarter valued at $25,000. IMG Wealth Management Inc. purchased a new position in Chevron during the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron during the 4th quarter valued at $29,000. 10Elms LLP purchased a new position in Chevron during the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC boosted its holdings in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 88 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 1.2%

Shares of NYSE CVX opened at $135.57 on Thursday. The business has a fifty day moving average price of $145.61 and a 200 day moving average price of $151.50. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The stock has a market capitalization of $236.75 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX – Get Free Report) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.93 EPS. Equities research analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s dividend payout ratio is presently 78.17%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CVX. Raymond James lowered their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Barclays cut Chevron from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. TD Cowen lowered their target price on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. Finally, BNP Paribas cut Chevron to a “cautious” rating in a report on Tuesday, April 15th. 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’s stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and a consensus price target of $160.24.

View Our Latest Stock Analysis on CVX

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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