Bill Few Associates Inc. Has $4.17 Million Stake in Chevron Co. (NYSE:CVX)

Posted by on Jun 30th, 2023

Bill Few Associates Inc. lessened its position in Chevron Co. (NYSE:CVX – Free Report) by 21.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,538 shares of the oil and gas company’s stock after selling 6,896 shares during the period. Chevron comprises about 2.3% of Bill Few Associates Inc.’s portfolio, making the stock its 9th largest holding. Bill Few Associates Inc.’s holdings in Chevron were worth $4,167,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cantor Fitzgerald Investment Advisor L.P boosted its holdings in shares of Chevron by 85.1% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock worth $25,908,000 after buying an additional 73,141 shares during the period. Axiom Financial Strategies LLC boosted its holdings in shares of Chevron by 25.2% during the 1st quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after buying an additional 1,476 shares during the period. GQG Partners LLC boosted its holdings in shares of Chevron by 4.7% during the 1st quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after buying an additional 1,813 shares during the period. Lumature Wealth Partners LLC boosted its holdings in shares of Chevron by 43.5% during the 1st quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after buying an additional 1,770 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of Chevron by 13.8% during the 1st quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after buying an additional 250,840 shares during the period. Institutional investors own 69.65% of the company’s stock.

Chevron Trading Up 0.8 %

CVX opened at $156.20 on Friday. The company’s 50 day moving average price is $157.68 and its two-hundred day moving average price is $165.21. 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 fifty-two week low of $132.54 and a fifty-two week high of $189.68. The firm has a market capitalization of $295.94 billion, a price-to-earnings ratio of 8.43, a PEG ratio of 0.79 and a beta of 1.17.

Chevron (NYSE:CVX – Free Report) last posted its quarterly earnings data on Friday, April 28th. The oil and gas company reported $3.55 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 analyst estimates of $49.49 billion. During the same period in the prior year, the firm posted $3.36 EPS. The company’s quarterly revenue was down 6.6% on a year-over-year basis. As a group, research analysts predict that Chevron Co. will post 13.83 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed 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 3.87%. The ex-dividend date of this dividend was Thursday, May 18th. Chevron’s dividend payout ratio is currently 32.61%.

Analysts Set New Price Targets

CVX has been the subject of a number of recent research reports. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $195.00 to $200.00 in a report on Thursday, April 13th. UBS Group initiated coverage on shares of Chevron in a report on Wednesday, April 19th. They issued a “buy” rating and a $212.00 price objective for the company. Royal Bank of Canada raised shares of Chevron from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $165.00 to $180.00 in a report on Thursday, June 1st. Truist Financial dropped their target price on shares of Chevron from $193.00 to $190.00 in a research report on Monday, May 1st. Finally, JPMorgan Chase & Co. upgraded shares of Chevron from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $161.00 to $170.00 in a research report on Wednesday, May 31st. 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.com, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $191.68.

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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