Bridgeworth LLC Raises Position in Chevron Co. (NYSE:CVX)

Posted by Defense World Staff on Jul 5th, 2023

Bridgeworth LLC increased its holdings in Chevron Co. (NYSE:CVX – Free Report) by 6.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,792 shares of the oil and gas company’s stock after purchasing an additional 289 shares during the quarter. Bridgeworth LLC’s holdings in Chevron were worth $782,000 as of its most recent filing with the Securities & Exchange Commission.

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

Chevron Stock Down 0.1 %

CVX opened at $157.21 on Wednesday. The stock has a market capitalization of $297.86 billion, a price-to-earnings ratio of 8.49, a PEG ratio of 0.80 and a beta of 1.16. Chevron Co. has a twelve month low of $132.54 and a twelve month high of $189.68. The firm has a 50 day moving average price of $156.92 and a 200-day moving average price of $164.83. The company has a quick ratio of 1.16, a current ratio of 1.43 and a debt-to-equity ratio of 0.13.

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

Chevron Announces Dividend

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

Wall Street Analyst Weigh In

CVX has been the topic of a number of research reports. StockNews.com initiated coverage on shares of Chevron in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Mizuho dropped their price objective on shares of Chevron from $206.00 to $196.00 in a research note on Friday, May 19th. Piper Sandler dropped their price objective on shares of Chevron from $196.00 to $188.00 in a research note on Tuesday, June 13th. Morgan Stanley boosted their price objective on shares of Chevron from $192.00 to $198.00 in a research note on Tuesday, May 23rd. Finally, JPMorgan Chase & Co. raised shares of Chevron from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $161.00 to $170.00 in a research note on Wednesday, May 31st. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average target price 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.

Bridgeworth LLC Raises Position in Chevron Co. (NYSE:CVX)

Chevron Stock Down 0.1 %

Chevron Announces Dividend

Wall Street Analyst Weigh In

About Chevron

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