Capital Investment Advisory Services LLC Sells 610 Shares of Chevron Co. (NYSE:CVX)

Posted by Defense World Staff on Jul 8th, 2023

Capital Investment Advisory Services LLC lowered its stake in Chevron Co. (NYSE:CVX – Free Report) by 2.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,829 shares of the oil and gas company’s stock after selling 610 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in Chevron were worth $3,725,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CVX. Steph & Co. raised its stake in Chevron by 6.3% during the 1st quarter. Steph & Co. now owns 4,943 shares of the oil and gas company’s stock valued at $806,000 after purchasing an additional 295 shares during the period. Mayflower Financial Advisors LLC raised its stake in Chevron by 1.6% during the 4th quarter. Mayflower Financial Advisors LLC now owns 92,113 shares of the oil and gas company’s stock valued at $16,533,000 after purchasing an additional 1,453 shares during the period. M&R Capital Management Inc. raised its stake in Chevron by 9.8% during the 4th quarter. M&R Capital Management Inc. now owns 7,580 shares of the oil and gas company’s stock valued at $1,361,000 after purchasing an additional 674 shares during the period. Albion Financial Group UT raised its stake in Chevron by 0.6% during the 4th quarter. Albion Financial Group UT now owns 17,553 shares of the oil and gas company’s stock valued at $3,151,000 after purchasing an additional 105 shares during the period. Finally, Miracle Mile Advisors LLC raised its stake in Chevron by 5.1% during the 4th quarter. Miracle Mile Advisors LLC now owns 19,920 shares of the oil and gas company’s stock valued at $3,575,000 after purchasing an additional 965 shares during the period. Institutional investors own 69.65% of the company’s stock.

Chevron Price Performance

Shares of CVX stock opened at $154.23 on Friday. Chevron Co. has a 52-week low of $132.54 and a 52-week high of $189.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.16 and a current ratio of 1.43. The firm has a market capitalization of $292.21 billion, a P/E ratio of 8.33, a P/E/G ratio of 0.77 and a beta of 1.16. The stock has a 50 day moving average price of $156.16 and a 200 day moving average price of $164.58.

Chevron (NYSE:CVX – Free Report) last issued its quarterly earnings results on Friday, April 28th. The oil and gas company reported $3.55 earnings per share (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 firm had revenue of $50.79 billion during the quarter, compared to analyst estimates of $49.49 billion. During the same period last year, the company earned $3.36 EPS. Chevron’s quarterly revenue was down 6.6% compared to the same quarter last year. As a group, sell-side analysts predict 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. Investors of record on Friday, May 19th were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date was Thursday, May 18th. Chevron’s dividend payout ratio is currently 32.61%.

Analyst Upgrades and Downgrades

CVX has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on Chevron from $192.00 to $198.00 in a research note on Tuesday, May 23rd. JPMorgan Chase & Co. raised Chevron from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $161.00 to $170.00 in a research note on Wednesday, May 31st. Piper Sandler cut their price target on Chevron from $196.00 to $188.00 in a report on Tuesday, June 13th. Raymond James cut their price target on Chevron from $212.00 to $208.00 and set an “outperform” rating for the company in a report on Friday, April 14th. Finally, BNP Paribas upgraded Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 price target for the company in a report on Tuesday, April 4th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company 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.

Capital Investment Advisory Services LLC Sells 610 Shares of Chevron Co. (NYSE:CVX)

Chevron Price Performance

Chevron Dividend Announcement

Analyst Upgrades and Downgrades

Chevron Company Profile

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