Atlas Private Wealth Advisors Sells 332 Shares of Chevron Co. (NYSE:CVX)

Posted by on Jun 24th, 2023

Atlas Private Wealth Advisors reduced its stake in Chevron Co. (NYSE:CVX – Get Rating) by 7.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,436 shares of the oil and gas company’s stock after selling 332 shares during the period. Atlas Private Wealth Advisors’ holdings in Chevron were worth $724,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Moneta Group Investment Advisors LLC lifted its stake in Chevron by 104,997.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after purchasing an additional 24,467,521 shares during the last quarter. Norges Bank bought a new stake in Chevron during the fourth quarter worth $3,058,235,000. Price T Rowe Associates Inc. MD lifted its stake in Chevron by 79.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,896,009 shares of the oil and gas company’s stock worth $2,494,194,000 after purchasing an additional 6,133,227 shares during the last quarter. Morgan Stanley lifted its stake in Chevron by 12.7% during the fourth quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after purchasing an additional 3,711,923 shares during the last quarter. Finally, Edmp Inc. lifted its stake in Chevron by 17,439.1% during the fourth quarter. Edmp Inc. now owns 2,949,893 shares of the oil and gas company’s stock worth $16,435,000 after purchasing an additional 2,933,074 shares during the last quarter. 69.65% of the stock is currently owned by institutional investors.

Chevron Price Performance

CVX stock opened at $151.39 on Friday. The stock has a market capitalization of $286.83 billion, a PE ratio of 8.17, a price-to-earnings-growth ratio of 0.80 and a beta of 1.17. The company’s 50-day moving average is $158.94 and its 200-day moving average is $165.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.43 and a quick ratio of 1.16. Chevron Co. has a 1 year low of $132.54 and a 1 year high of $189.68.

Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings data on Friday, April 28th. The oil and gas company reported $3.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.41 by $0.14. The company had revenue of $50.79 billion for the quarter, compared to analysts’ expectations of $49.49 billion. Chevron had a net margin of 14.74% and a return on equity of 23.15%. The business’s revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.36 EPS. Equities research analysts expect 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 was Thursday, May 18th. This represents a $6.04 annualized dividend and a yield of 3.99%. Chevron’s payout ratio is 32.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CVX shares. Royal Bank of Canada upgraded Chevron from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $165.00 to $180.00 in a research note on Thursday, June 1st. Wells Fargo & Company lowered their price target on shares of Chevron from $204.00 to $199.00 and set an “overweight” rating for the company in a report on Thursday, March 2nd. JPMorgan Chase & Co. upgraded shares of Chevron from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $161.00 to $170.00 in a report on Wednesday, May 31st. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $189.00 price target for the company in a report on Tuesday, May 23rd. Finally, Morgan Stanley upped their price target on shares of Chevron from $192.00 to $198.00 in a report on Tuesday, May 23rd. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.68.

Chevron 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.

See Also

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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