Oliver Luxxe Assets LLC Sells 5,572 Shares of Chevron Co. (NYSE:CVX)

Posted by Defense World Staff on Jul 3rd, 2023

Oliver Luxxe Assets LLC decreased its stake in Chevron Co. (NYSE:CVX – Free Report) by 14.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,440 shares of the oil and gas company’s stock after selling 5,572 shares during the period. Chevron accounts for approximately 1.4% of Oliver Luxxe Assets LLC’s holdings, making the stock its 15th largest position. Oliver Luxxe Assets LLC’s holdings in Chevron were worth $5,456,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. AJ Wealth Strategies LLC lifted its position in Chevron by 1.8% during the fourth quarter. AJ Wealth Strategies LLC now owns 3,092 shares of the oil and gas company’s stock worth $555,000 after purchasing an additional 56 shares during the period. Howard Capital Management Group LLC raised its position in Chevron by 3.3% during the fourth quarter. Howard Capital Management Group LLC now owns 1,792 shares of the oil and gas company’s stock valued at $322,000 after purchasing an additional 57 shares in the last quarter. Aries Wealth Management lifted its stake in Chevron by 0.5% during the fourth quarter. Aries Wealth Management now owns 10,973 shares of the oil and gas company’s stock worth $1,970,000 after purchasing an additional 59 shares during the last quarter. Mendel Capital Management LLC boosted its stake in Chevron by 1.3% in the fourth quarter. Mendel Capital Management LLC now owns 4,663 shares of the oil and gas company’s stock valued at $837,000 after buying an additional 59 shares in the last quarter. Finally, MV Capital Management Inc. grew its position in Chevron by 3.1% in the fourth quarter. MV Capital Management Inc. now owns 1,962 shares of the oil and gas company’s stock valued at $352,000 after acquiring an additional 59 shares during the last quarter. Institutional investors own 69.65% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $157.35 on Monday. The business has a 50-day moving average price of $157.44 and a two-hundred day moving average price of $165.01. Chevron Co. has a 1-year low of $132.54 and a 1-year high of $189.68. The company has a current ratio of 1.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.13. The company has a market cap of $298.12 billion, a P/E ratio of 8.50, a PEG ratio of 0.80 and a beta of 1.16.

Chevron (NYSE:CVX – Free Report) last released its earnings results on Friday, April 28th. The oil and gas company reported $3.55 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $49.49 billion. During the same quarter last year, the firm posted $3.36 earnings per share. The firm’s revenue was down 6.6% on a year-over-year basis. As a group, analysts anticipate that Chevron Co. will post 13.83 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Friday, May 19th were paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 3.84%. The ex-dividend date was Thursday, May 18th. Chevron’s dividend payout ratio is presently 32.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Raymond James reduced their price target on shares of Chevron from $212.00 to $208.00 and set an “outperform” rating on the stock in a research note on Friday, April 14th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $195.00 to $200.00 in a report on Thursday, April 13th. Mizuho reduced their price objective on Chevron from $206.00 to $196.00 in a research report on Friday, May 19th. Royal Bank of Canada upgraded Chevron from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $165.00 to $180.00 in a research report on Thursday, June 1st. Finally, UBS Group began coverage on Chevron in a report on Wednesday, April 19th. They set a “buy” rating and a $212.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $191.68.

Chevron 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.