MBA Advisors LLC Acquires 225 Shares of Chevron Corporation (NYSE:CVX)

by · The Markets Daily

MBA Advisors LLC lifted its holdings in Chevron Corporation (NYSE:CVX – Free Report) by 4.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,991 shares of the oil and gas company’s stock after buying an additional 225 shares during the quarter. MBA Advisors LLC’s holdings in Chevron were worth $835,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. IMG Wealth Management Inc. purchased a new stake in Chevron in the fourth quarter worth $25,000. Life Planning Partners Inc purchased a new stake in shares of Chevron during the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron in the 4th quarter worth about $29,000. 10Elms LLP purchased a new position in Chevron in the 4th quarter worth about $29,000. Finally, Fairway Wealth LLC lifted 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 buying an additional 88 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. BNP Paribas downgraded shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Piper Sandler boosted their price target on Chevron from $162.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday. Mizuho reduced their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. DZ Bank lowered Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a research report on Tuesday, May 6th. Finally, Hsbc Global Res downgraded Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $160.41.

View Our Latest Stock Report on Chevron

Chevron Price Performance

Shares of CVX opened at $148.23 on Friday. The company has a 50 day moving average of $140.97 and a two-hundred day moving average of $148.07. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a market cap of $258.86 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 2.52 and a beta of 0.83.

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 for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the previous year, the business earned $2.93 EPS. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.61%. Chevron’s dividend payout ratio (DPR) is currently 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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