Orser Capital Management LLC Acquires 415 Shares of Chevron Co. (NYSE:CVX)

Posted by on Jun 23rd, 2023

Orser Capital Management LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX – Get Rating) by 6.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 6,573 shares of the oil and gas company’s stock after acquiring an additional 415 shares during the period. Orser Capital Management LLC’s holdings in Chevron were worth $1,072,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AJ Wealth Strategies LLC lifted its stake in Chevron by 1.8% in the fourth quarter. AJ Wealth Strategies LLC now owns 3,092 shares of the oil and gas company’s stock valued at $555,000 after buying an additional 56 shares in the last quarter. Howard Capital Management Group LLC lifted its stake in Chevron by 3.3% in the fourth quarter. Howard Capital Management Group LLC now owns 1,792 shares of the oil and gas company’s stock valued at $322,000 after buying an additional 57 shares in the last quarter. Aries Wealth Management lifted its position in shares of Chevron by 0.5% in the fourth quarter. Aries Wealth Management now owns 10,973 shares of the oil and gas company’s stock worth $1,970,000 after purchasing an additional 59 shares in the last quarter. Mendel Capital Management LLC lifted its position in shares of Chevron by 1.3% in the fourth quarter. Mendel Capital Management LLC now owns 4,663 shares of the oil and gas company’s stock worth $837,000 after purchasing an additional 59 shares in the last quarter. Finally, MV Capital Management Inc. lifted its position in shares of Chevron by 3.1% in the fourth quarter. MV Capital Management Inc. now owns 1,962 shares of the oil and gas company’s stock worth $352,000 after purchasing an additional 59 shares in the last quarter. 69.65% of the stock is owned by institutional investors.

Chevron Trading Down 1.4 %

CVX stock opened at $152.64 on Friday. 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 company’s 50-day simple moving average is $159.36 and its 200 day simple moving average is $165.85. Chevron Co. has a 52 week low of $132.54 and a 52 week high of $189.68. The company has a market capitalization of $289.20 billion, a PE ratio of 8.24, a price-to-earnings-growth ratio of 0.80 and a beta of 1.17.

Chevron (NYSE:CVX – Get Rating) last posted its quarterly earnings data 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 business had revenue of $50.79 billion during the quarter, compared to analysts’ expectations of $49.49 billion. During the same quarter in the prior year, the business posted $3.36 earnings per share. Chevron’s revenue was down 6.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Co. will post 13.82 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Friday, May 19th were given a dividend of $1.51 per share. The ex-dividend date was Thursday, May 18th. This represents a $6.04 annualized dividend and a yield of 3.96%. Chevron’s dividend payout ratio is 32.61%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CVX. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $195.00 to $200.00 in a research report on Thursday, April 13th. BNP Paribas raised shares of Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 price objective on the stock in a research report on Tuesday, April 4th. Wells Fargo & Company cut their price objective on shares of Chevron from $204.00 to $199.00 and set an “overweight” rating on the stock in a research report on Thursday, March 2nd. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and set a $189.00 price objective on the stock in a research report on Tuesday, May 23rd. Finally, Truist Financial cut their price objective on shares of Chevron from $193.00 to $190.00 in a research report on Monday, May 1st. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $191.68.

Chevron Company Profile

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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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