WFA of San Diego LLC Raises Holdings in Chevron Co. (NYSE:CVX)

Posted by Defense World Staff on Jun 30th, 2023

WFA of San Diego LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX – Free Report) by 3.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,525 shares of the oil and gas company’s stock after acquiring an additional 88 shares during the period. WFA of San Diego LLC’s holdings in Chevron were worth $412,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Derbend Asset Management boosted its position in Chevron by 5.3% in the first quarter. Derbend Asset Management now owns 4,143 shares of the oil and gas company’s stock valued at $676,000 after buying an additional 207 shares during the last quarter. Bourgeon Capital Management LLC boosted its position in Chevron by 1.2% in the first quarter. Bourgeon Capital Management LLC now owns 9,951 shares of the oil and gas company’s stock valued at $1,624,000 after buying an additional 115 shares during the last quarter. Cornell Pochily Investment Advisors Inc. boosted its position in Chevron by 2.5% in the first quarter. Cornell Pochily Investment Advisors Inc. now owns 11,663 shares of the oil and gas company’s stock valued at $1,903,000 after buying an additional 285 shares during the last quarter. Fortune 45 LLC boosted its position in Chevron by 43.3% in the first quarter. Fortune 45 LLC now owns 5,456 shares of the oil and gas company’s stock valued at $890,000 after buying an additional 1,649 shares during the last quarter. Finally, Baker Boyer National Bank boosted its position in Chevron by 15.8% in the first quarter. Baker Boyer National Bank now owns 5,652 shares of the oil and gas company’s stock valued at $922,000 after buying an additional 771 shares during the last quarter. Hedge funds and other institutional investors own 69.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $195.00 to $200.00 in a research report on Thursday, April 13th. JPMorgan Chase & Co. raised Chevron from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $161.00 to $170.00 in a report on Wednesday, May 31st. BNP Paribas raised Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 price target for the company in a report on Tuesday, April 4th. Royal Bank of Canada raised Chevron from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $165.00 to $180.00 in a report on Thursday, June 1st. Finally, Mizuho decreased their price target on Chevron from $206.00 to $196.00 in a report on Friday, May 19th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average price target of $191.68.

Chevron Trading Up 0.8 %

Shares of CVX stock opened at $156.20 on Friday. The stock’s fifty day moving average is $157.68 and its two-hundred day moving average is $165.21. 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 market capitalization of $295.94 billion, a P/E ratio of 8.43, a PEG ratio of 0.79 and a beta of 1.17. Chevron Co. has a fifty-two week low of $132.54 and a fifty-two week high of $189.68.

Chevron (NYSE:CVX – Free Report) last announced its quarterly earnings data on Friday, April 28th. The oil and gas company reported $3.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.41 by $0.14. The company had revenue of $50.79 billion for the quarter, compared to analyst estimates of $49.49 billion. Chevron had a return on equity of 23.15% and a net margin of 14.74%. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.36 EPS. Research analysts expect that Chevron Co. will post 13.83 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 12th. Shareholders 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 3.87%. The ex-dividend date of this dividend was Thursday, May 18th. Chevron’s dividend payout ratio (DPR) is presently 32.61%.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.