Wealth Enhancement Advisory Services LLC Has $3.18 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Posted by on Jul 12th, 2023

Wealth Enhancement Advisory Services LLC cut its position in Chevron Co. (NYSE:CVX – Free Report) by 60.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,464 shares of the oil and gas company’s stock after selling 29,313 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Chevron were worth $3,176,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisor L.P increased its position in shares of Chevron by 85.1% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock worth $25,908,000 after acquiring an additional 73,141 shares in the last quarter. Axiom Financial Strategies LLC increased its position in shares of Chevron by 25.2% during the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after acquiring an additional 1,476 shares in the last quarter. GQG Partners LLC increased its position in shares of Chevron by 4.7% during the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after acquiring an additional 1,813 shares in the last quarter. Lumature Wealth Partners LLC increased its position in shares of Chevron by 43.5% during the first quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after acquiring an additional 1,770 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Chevron by 13.8% during the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after acquiring an additional 250,840 shares in the last quarter. 69.65% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

NYSE CVX opened at $158.12 on Wednesday. The firm has a 50-day moving average of $155.88 and a 200-day moving average of $164.20. 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 stock has a market cap of $299.58 billion, a PE ratio of 8.54, a P/E/G ratio of 0.79 and a beta of 1.16. Chevron Co. has a 52-week low of $132.54 and a 52-week high of $189.68.

Chevron (NYSE:CVX – Get Free Report) last posted its 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. The company had revenue of $50.79 billion during the quarter, compared to analysts’ expectations of $49.49 billion. Chevron had a net margin of 14.74% and a return on equity of 23.15%. Chevron’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.36 EPS. On average, sell-side 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. Stockholders 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 3.82%. The ex-dividend date was Thursday, May 18th. Chevron’s dividend payout ratio is presently 32.61%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CVX shares. Mizuho increased their price objective on shares of Chevron from $202.00 to $205.00 in a research report on Tuesday. UBS Group began coverage on shares of Chevron in a research report on Wednesday, April 19th. They set a “buy” rating and a $212.00 price objective for the company. StockNews.com began coverage on shares of Chevron in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Citigroup decreased their target price on shares of Chevron from $180.00 to $170.00 in a research report on Tuesday. Finally, HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and set a $189.00 target price for the company in a research report on Tuesday, May 23rd. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $191.63.

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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