Kingswood Wealth Advisors LLC Acquires 7,179 Shares of Chevron Corporation (NYSE:CVX)

Kingswood Wealth Advisors LLC boosted its holdings in shares of Chevron Corporation (NYSE:CVX) by 29.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,918 shares of the oil and gas company’s stock after acquiring an additional 7,179 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Chevron were worth $5,355,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. IMG Wealth Management Inc. acquired a new stake in shares of Chevron in the 4th quarter valued at about $25,000. Life Planning Partners Inc acquired a new stake in shares of Chevron in the 4th quarter valued at about $25,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron in the 4th quarter valued at about $29,000. 10Elms LLP acquired a new stake in shares of Chevron in the 4th quarter valued at about $29,000. Finally, Fairway Wealth LLC raised its stake in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CVX has been the topic of several recent research reports. UBS Group dropped their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. HSBC downgraded Chevron from a “buy” rating to a “hold” rating and dropped their price target for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Wells Fargo & Company dropped their price target on Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Redburn Atlantic reissued a “sell” rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Finally, Mizuho lowered their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Chevron presently has a consensus rating of “Hold” and an average price target of $160.24.

Chevron Price Performance

Shares of NYSE CVX opened at $148.86 on Wednesday. The business’s 50 day moving average price is $138.78 and its two-hundred day moving average price is $148.91. The company has a market cap of $259.97 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 2.56 and a beta of 0.83. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business’s revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.93 earnings per share. On average, analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

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; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.