3,493 Shares in Chevron Co. (NYSE:CVX) Bought by Riversedge Advisors LLC

Posted by Defense World Staff on Jul 2nd, 2023

Riversedge Advisors LLC purchased a new stake in shares of Chevron Co. (NYSE:CVX – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 3,493 shares of the oil and gas company’s stock, valued at approximately $570,000.

A number of other large investors have also added to or reduced their stakes in the company. Rebalance LLC bought a new position in Chevron in the fourth quarter worth about $26,000. Western Pacific Wealth Management LP purchased a new position in shares of Chevron during the 4th quarter worth approximately $37,000. Red Tortoise LLC bought a new position in shares of Chevron in the 4th quarter worth approximately $37,000. Worth Asset Management LLC purchased a new position in shares of Chevron in the 1st quarter valued at approximately $36,000. Finally, JDM Financial Group LLC purchased a new stake in Chevron in the fourth quarter worth $42,000. Institutional investors own 69.65% of the company’s stock.

Chevron Stock Performance

CVX stock opened at $157.35 on Friday. The company has a market cap of $298.12 billion, a P/E ratio of 8.50, a price-to-earnings-growth ratio of 0.79 and a beta of 1.17. 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. The stock’s fifty day moving average price is $157.44 and its 200-day moving average price is $165.06.

Chevron (NYSE:CVX – Free Report) last released its quarterly earnings results on Friday, April 28th. The oil and gas company reported $3.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.41 by $0.14. Chevron had a return on equity of 23.15% and a net margin of 14.74%. The business had revenue of $50.79 billion during the quarter, compared to the consensus estimate of $49.49 billion. During the same period in the previous year, the company posted $3.36 EPS. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. On average, equities analysts forecast that Chevron Co. will post 13.83 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 12th. Shareholders 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 3.84%. Chevron’s payout ratio is presently 32.61%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CVX shares. StockNews.com initiated coverage on shares of Chevron in a report on Thursday, May 18th. They set a “hold” rating on the stock. Piper Sandler dropped their price objective on shares of Chevron from $196.00 to $188.00 in a research note on Tuesday, June 13th. Mizuho decreased their target price on shares of Chevron from $206.00 to $196.00 in a research note on Friday, May 19th. UBS Group initiated coverage on shares of Chevron in a report on Wednesday, April 19th. They set a “buy” rating and a $212.00 target price for the company. Finally, Truist Financial cut their price target on Chevron from $193.00 to $190.00 in a research note on Monday, May 1st. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently 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.