FSC Wealth Advisors LLC Acquires 93 Shares of Chevron Co. (NYSE:CVX)

Posted by Defense World Staff on Jul 3rd, 2023

FSC Wealth Advisors LLC boosted its position in Chevron Co. (NYSE:CVX – Free Report) by 18.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 593 shares of the oil and gas company’s stock after acquiring an additional 93 shares during the period. FSC Wealth Advisors LLC’s holdings in Chevron were worth $97,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Morgan Stanley boosted its holdings in Chevron by 12.7% in the fourth quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock valued at $5,906,309,000 after acquiring an additional 3,711,923 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in Chevron by 104,997.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after buying an additional 24,467,521 shares during the period. Norges Bank acquired a new position in Chevron in the fourth quarter valued at about $3,058,235,000. Charles Schwab Investment Management Inc. lifted its stake in Chevron by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 14,697,160 shares of the oil and gas company’s stock valued at $2,393,138,000 after buying an additional 189,762 shares during the period. Finally, Franklin Resources Inc. lifted its stake in Chevron by 2.6% in the fourth quarter. Franklin Resources Inc. now owns 14,164,343 shares of the oil and gas company’s stock valued at $2,542,358,000 after buying an additional 354,084 shares during the period. Institutional investors own 69.65% of the company’s stock.

Chevron Stock Up 0.7 %

CVX stock opened at $157.35 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.43 and a quick ratio of 1.16. The stock has a market capitalization of $298.12 billion, a price-to-earnings ratio of 8.50, a PEG ratio of 0.80 and a beta of 1.16. The business’s fifty day moving average price is $157.44 and its two-hundred day moving average price is $165.01. 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 issued its quarterly earnings results on Friday, April 28th. The oil and gas company reported $3.55 EPS for the quarter, topping 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 company had revenue of $50.79 billion for the quarter, compared to analysts’ expectations of $49.49 billion. During the same quarter last year, the business earned $3.36 earnings per share. Chevron’s revenue was down 6.6% on a year-over-year basis. On average, equities analysts anticipate that Chevron Co. will post 13.83 earnings per share for the current year.

Chevron Dividend Announcement

The business 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. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date was Thursday, May 18th. Chevron’s payout ratio is currently 32.61%.

Analyst Ratings Changes

Several equities analysts have weighed in on CVX shares. Truist Financial cut their target price on Chevron from $193.00 to $190.00 in a research note on Monday, May 1st. Raymond James dropped their price target on Chevron from $212.00 to $208.00 and set an “outperform” rating on the stock in a research report on Friday, April 14th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $195.00 to $200.00 in a research report on Thursday, April 13th. BNP Paribas raised Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 price target on the stock in a research report on Tuesday, April 4th. Finally, Mizuho dropped their price target on Chevron from $206.00 to $196.00 in a research report on Friday, May 19th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $191.68.

About Chevron

(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.