Pacific Point Advisors LLC Takes $257,000 Position in Chevron Co. (NYSE:CVX)

by · The Markets Daily

Pacific Point Advisors LLC acquired a new position in shares of Chevron Co. (NYSE:CVX – Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,675 shares of the oil and gas company’s stock, valued at approximately $257,000.

Other large investors also recently made changes to their positions in the company. IMG Wealth Management Inc. bought a new position in shares of Chevron in the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron during the 4th quarter worth about $29,000. 10Elms LLP bought a new position in shares of Chevron during the 4th quarter worth about $29,000. Fairway Wealth LLC increased its stake in Chevron by 75.9% in the fourth 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. Finally, Navigoe LLC acquired a new position in Chevron in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent research reports. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a research note on Tuesday, May 6th. UBS Group lowered their price target 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. Truist Financial decreased their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Finally, Mizuho cut their target price on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $160.24.

Get Our Latest Stock Analysis on CVX

Chevron Stock Down 0.2%

CVX opened at $135.33 on Friday. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $145.15 and a 200 day moving average price of $151.37. The company has a market cap of $236.34 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX – Get Free Report) last posted its quarterly earnings data 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. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter last year, the company posted $2.93 EPS. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. Sell-side analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Chevron Company 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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