Chevron Corporation (NYSE:CVX) Shares Purchased by World Equity Group Inc.

World Equity Group Inc. boosted its position in Chevron Corporation (NYSE:CVX) by 3.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,569 shares of the oil and gas company’s stock after purchasing an additional 260 shares during the period. World Equity Group Inc.’s holdings in Chevron were worth $1,402,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IMG Wealth Management Inc. acquired a new stake in shares of Chevron during the 4th quarter valued at approximately $25,000. Life Planning Partners Inc acquired a new stake in shares of Chevron during the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron during the 4th quarter worth approximately $29,000. 10Elms LLP purchased a new position in shares of Chevron during the 4th quarter worth approximately $29,000. Finally, Fairway Wealth LLC increased 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 worth $30,000 after purchasing an additional 88 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 0.8%

Shares of Chevron stock opened at $149.36 on Friday. The company has a fifty day moving average price of $139.37 and a 200 day moving average price of $148.72. The company has a current ratio of 1.08, a quick ratio of 0.82 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. The stock has a market cap of $260.84 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 2.60 and a beta of 0.83.

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. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. During the same period in the prior year, the company earned $2.93 EPS. The firm’s revenue was down 2.3% on a year-over-year basis. Equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

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 dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.58%. Chevron’s dividend payout ratio (DPR) is 78.17%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CVX shares. Wells Fargo & Company dropped their price objective on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a report on Tuesday, May 6th. Hsbc Global Res lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Barclays cut shares of Chevron from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Finally, HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and lowered their target price for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Chevron presently has a consensus rating of “Hold” and an average target price 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.