Aurora Private Wealth Inc. Invests $5.54 Million in Chevron Corporation (NYSE:CVX)

Aurora Private Wealth Inc. acquired a new stake in Chevron Corporation (NYSE:CVX) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 33,114 shares of the oil and gas company’s stock, valued at approximately $5,540,000. Chevron comprises 1.4% of Aurora Private Wealth Inc.’s holdings, making the stock its 12th largest position.

Several other institutional investors and hedge funds have also modified their holdings of CVX. IMG Wealth Management Inc. acquired a new position in Chevron in the 4th quarter valued at $25,000. Life Planning Partners Inc acquired a new stake in shares of Chevron during the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Chevron in the fourth quarter valued at $29,000. 10Elms LLP purchased a new stake in shares of Chevron in the fourth quarter valued at $29,000. Finally, Fairway Wealth LLC increased its stake in Chevron by 75.9% in the fourth 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 last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CVX. BNP Paribas cut Chevron to a “cautious” rating in a report on Tuesday, April 15th. Hsbc Global Res cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Mizuho dropped their target price on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Finally, Barclays lowered shares of Chevron from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $160.41.

Chevron Trading Up 0.2%

Chevron stock opened at $148.23 on Friday. The firm has a 50-day moving average price of $140.97 and a two-hundred day moving average price of $148.07. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The firm has a market capitalization of $258.86 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 2.52 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 (NYSE:CVX) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the previous year, the firm posted $2.93 earnings per share. The business’s revenue was down 2.3% on a year-over-year basis. Sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.61%. Chevron’s payout ratio is 78.17%.

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.