Chevron Corporation (NYSE:CVX) Shares Purchased by Riverbend Wealth Management LLC

Riverbend Wealth Management LLC boosted its stake in shares of Chevron Corporation (NYSE:CVX) by 6.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,341 shares of the oil and gas company’s stock after purchasing an additional 367 shares during the period. Riverbend Wealth Management LLC’s holdings in Chevron were worth $1,061,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. IMG Wealth Management Inc. purchased a new position in shares of Chevron during the 4th quarter valued at about $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron during the 4th quarter valued at about $29,000. 10Elms LLP purchased a new position in shares of Chevron during the 4th quarter valued at about $29,000. Fairway Wealth LLC raised its stake in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 88 shares during the last quarter. Finally, IFS Advisors LLC raised its stake in shares of Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 2.2%

CVX opened at $143.67 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The company’s 50 day simple moving average is $139.78 and its two-hundred day simple moving average is $148.49. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a market capitalization of $250.90 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 2.58 and a beta of 0.83.

Chevron (NYSE:CVX) last released its 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. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period last year, the company posted $2.93 EPS. The business’s revenue was down 2.3% on a year-over-year basis. Analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price objective on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. BNP Paribas cut Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Barclays cut Chevron from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. HSBC cut Chevron from a “buy” rating to a “hold” rating and dropped their target price for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Finally, UBS Group dropped their target price on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $160.24.

About Chevron

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.