Aurora Private Wealth Inc. Has $241,000 Position in Chevron Co. (NYSE:CVX)

Posted by Defense World Staff on Jun 20th, 2023

Aurora Private Wealth Inc. cut its position in Chevron Co. (NYSE:CVX – Get Rating) by 9.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,476 shares of the oil and gas company’s stock after selling 147 shares during the quarter. Aurora Private Wealth Inc.’s holdings in Chevron were worth $241,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVX. Rebalance LLC bought a new stake in shares of Chevron during the 4th quarter valued at approximately $26,000. Western Pacific Wealth Management LP bought a new stake in shares of Chevron during the 4th quarter valued at approximately $37,000. Red Tortoise LLC bought a new stake in shares of Chevron during the 4th quarter valued at approximately $37,000. Worth Asset Management LLC bought a new stake in shares of Chevron during the 1st quarter valued at approximately $36,000. Finally, JDM Financial Group LLC bought a new stake in shares of Chevron during the 4th quarter valued at approximately $42,000. 69.65% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 0.6 %

Chevron stock opened at $157.26 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.43 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $132.54 and a 12-month high of $189.68. The firm’s fifty day moving average is $160.36 and its 200 day moving average is $166.22. The company has a market capitalization of $297.95 billion, a PE ratio of 8.49, a PEG ratio of 0.80 and a beta of 1.17.

Chevron (NYSE:CVX – Get Rating) last released its earnings results on Friday, April 28th. The oil and gas company reported $3.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.41 by $0.14. Chevron had a net margin of 14.74% and a return on equity of 23.15%. The company had revenue of $50.79 billion for the quarter, compared to the consensus estimate of $49.49 billion. During the same quarter in the previous year, the company earned $3.36 EPS. Chevron’s quarterly revenue was down 6.6% compared to the same quarter last year. As a group, sell-side analysts predict that Chevron Co. will post 13.82 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Friday, May 19th were given a $1.51 dividend. The ex-dividend date of this dividend was Thursday, May 18th. This represents a $6.04 annualized dividend and a yield of 3.84%. Chevron’s payout ratio is 32.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Mizuho reduced their target price on shares of Chevron from $206.00 to $196.00 in a report on Friday, May 19th. Piper Sandler reduced their target price on shares of Chevron from $196.00 to $188.00 in a report on Tuesday, June 13th. Truist Financial reduced their target price on shares of Chevron from $193.00 to $190.00 in a report on Monday, May 1st. Morgan Stanley boosted their target price on shares of Chevron from $192.00 to $198.00 in a report on Tuesday, May 23rd. Finally, Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $195.00 to $200.00 in a report on Thursday, April 13th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $191.68.

About Chevron

(Get Rating)

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.