Chevron Corporation (NYSE:CVX) Shares Purchased by Omnia Family Wealth LLC

Omnia Family Wealth LLC raised its position in Chevron Corporation (NYSE:CVX) by 30.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,969 shares of the oil and gas company’s stock after purchasing an additional 465 shares during the period. Omnia Family Wealth LLC’s holdings in Chevron were worth $329,000 at the end of the most recent reporting period.

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

Chevron Trading Down 0.0%

Shares of CVX stock opened at $143.49 on Thursday. The company has a market capitalization of $250.59 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 2.52 and a beta of 0.83. The firm has a 50 day moving average price of $139.95 and a two-hundred day moving average price of $148.45. 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 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter in the prior year, the business posted $2.93 earnings per share. Chevron’s revenue was down 2.3% compared to the same quarter last year. As a group, analysts predict 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. Shareholders of record on Monday, May 19th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and cut their price objective for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. BNP Paribas cut Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Mizuho reduced their target price on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. 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, Piper Sandler lowered their price objective on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. 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. Based on data from MarketBeat, the stock 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.