Stolper Co Has $7.06 Million Position in Chevron Co. (NYSE:CVX)

Posted by on Jun 22nd, 2023

Stolper Co grew its stake in Chevron Co. (NYSE:CVX – Get Rating) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,261 shares of the oil and gas company’s stock after acquiring an additional 197 shares during the quarter. Chevron comprises about 3.0% of Stolper Co’s portfolio, making the stock its 6th biggest position. Stolper Co’s holdings in Chevron were worth $7,058,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Mayflower Financial Advisors LLC grew its stake in shares of Chevron by 1.6% during the fourth quarter. Mayflower Financial Advisors LLC now owns 92,113 shares of the oil and gas company’s stock worth $16,533,000 after acquiring an additional 1,453 shares during the last quarter. M&R Capital Management Inc. grew its position in Chevron by 9.8% during the 4th quarter. M&R Capital Management Inc. now owns 7,580 shares of the oil and gas company’s stock worth $1,361,000 after purchasing an additional 674 shares during the last quarter. Albion Financial Group UT increased its stake in Chevron by 0.6% during the 4th quarter. Albion Financial Group UT now owns 17,553 shares of the oil and gas company’s stock valued at $3,151,000 after purchasing an additional 105 shares in the last quarter. Miracle Mile Advisors LLC raised its holdings in shares of Chevron by 5.1% in the fourth quarter. Miracle Mile Advisors LLC now owns 19,920 shares of the oil and gas company’s stock worth $3,575,000 after buying an additional 965 shares during the last quarter. Finally, WC Walker & Associates Inc. lifted its stake in shares of Chevron by 12.3% during the fourth quarter. WC Walker & Associates Inc. now owns 3,099 shares of the oil and gas company’s stock worth $497,000 after buying an additional 340 shares during the period. 69.65% of the stock is owned by institutional investors.

Chevron Price Performance

Shares of NYSE CVX opened at $154.88 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.16 and a current ratio of 1.43. The firm has a fifty day moving average of $159.75 and a 200 day moving average of $165.94. The firm has a market cap of $293.44 billion, a PE ratio of 8.36, a PEG ratio of 0.80 and a beta of 1.17. Chevron Co. has a one year low of $132.54 and a one year high of $189.68.

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

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date was Thursday, May 18th. Chevron’s dividend payout ratio is presently 32.61%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CVX. Raymond James reduced their target price on Chevron from $212.00 to $208.00 and set an “outperform” rating for the company in a research note on Friday, April 14th. StockNews.com began coverage on Chevron in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Cowen cut their price target on shares of Chevron from $185.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, February 24th. Morgan Stanley lifted their price objective on shares of Chevron from $192.00 to $198.00 in a research note on Tuesday, May 23rd. Finally, Royal Bank of Canada upgraded shares of Chevron from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $165.00 to $180.00 in a research note on Thursday, June 1st. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $191.68.

About Chevron

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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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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