Centennial Wealth Advisory LLC Increases Stock Position in Chevron Corporation (NYSE:CVX)

Centennial Wealth Advisory LLC grew its stake in Chevron Corporation (NYSE:CVX) by 5.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,180 shares of the oil and gas company’s stock after buying an additional 232 shares during the period. Centennial Wealth Advisory LLC’s holdings in Chevron were worth $700,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Parkside Financial Bank & Trust boosted its holdings in shares of Chevron by 0.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock worth $2,207,000 after purchasing an additional 66 shares in the last quarter. Berkeley Capital Partners LLC lifted its position in Chevron by 0.4% in the 4th quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock worth $2,572,000 after buying an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in Chevron by 6.1% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company’s stock worth $171,000 after buying an additional 68 shares in the last quarter. Acorn Wealth Advisors LLC boosted its stake in Chevron by 3.4% in the fourth quarter. Acorn Wealth Advisors LLC now owns 2,092 shares of the oil and gas company’s stock worth $303,000 after buying an additional 69 shares in the last quarter. Finally, Unionview LLC grew its position in Chevron by 3.4% during the fourth quarter. Unionview LLC now owns 2,149 shares of the oil and gas company’s stock valued at $311,000 after acquiring an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.4%

Shares of CVX stock opened at $148.18 on Thursday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $258.78 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 2.61 and a beta of 0.83. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The stock’s 50-day moving average price is $138.82 and its 200-day moving average price is $148.90.

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

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.62%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio is presently 78.17%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. BNP Paribas lowered shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Redburn Atlantic reissued a “sell” rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. HSBC cut Chevron from a “buy” rating to a “hold” rating and reduced their price objective for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Piper Sandler decreased their target price on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Finally, Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $160.24.

Chevron Company 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.