Destiny Wealth Partners LLC raised its holdings in shares of Chevron Co. (NYSE:CVX – Free Report) by 29.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,170 shares of the oil and gas company’s stock after buying an additional 718 shares during the period. Destiny Wealth Partners LLC’s holdings in Chevron were worth $517,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Rebalance LLC purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $26,000. Western Pacific Wealth Management LP purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $37,000. Red Tortoise LLC purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $37,000. Worth Asset Management LLC purchased a new stake in shares of Chevron in the 1st quarter valued at approximately $36,000. Finally, JDM Financial Group LLC purchased a new stake in Chevron in the 4th quarter worth approximately $42,000. 69.65% of the stock is currently owned by institutional investors.
Chevron Stock Performance
NYSE CVX opened at $153.58 on Friday. 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 firm has a market capitalization of $290.98 billion, a price-to-earnings ratio of 8.29, a P/E/G ratio of 0.80 and a beta of 1.16. The company’s fifty day moving average is $155.83 and its two-hundred day moving average is $163.85. Chevron Co. has a 52-week low of $136.43 and a 52-week high of $189.68.
Chevron Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were given a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, May 18th. This represents a $6.04 annualized dividend and a dividend yield of 3.93%. Chevron’s dividend payout ratio (DPR) is currently 32.61%.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on CVX. UBS Group began coverage on shares of Chevron in a research report on Wednesday, April 19th. They issued a “buy” rating and a $212.00 target price for the company. Piper Sandler cut their target price on shares of Chevron from $196.00 to $188.00 in a research report on Tuesday, June 13th. BNP Paribas upgraded shares of Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 target price for the company in a research report on Tuesday, April 4th. Mizuho increased their target price on shares of Chevron from $202.00 to $205.00 in a research report on Tuesday, July 11th. Finally, Morgan Stanley raised their price target on shares of Chevron from $192.00 to $198.00 in a report on Tuesday, May 23rd. Eight 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $191.63.
Chevron Profile
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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