Pines Wealth Management LLC Purchases 253 Shares of Chevron Co. (NYSE:CVX)

Pines Wealth Management LLC raised its holdings in shares of Chevron Co. (NYSE:CVX) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,808 shares of the oil and gas company’s stock after purchasing an additional 253 shares during the quarter. Pines Wealth Management LLC’s holdings in Chevron were worth $1,306,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sovereign Financial Group Inc. increased its holdings in Chevron by 7.7% during the 1st quarter. Sovereign Financial Group Inc. now owns 2,895 shares of the oil and gas company’s stock worth $484,000 after purchasing an additional 207 shares in the last quarter. Ehrlich Financial Group bought a new stake in Chevron during the first quarter worth $211,000. Sandbox Financial Partners LLC raised its position in Chevron by 1.7% in the 1st quarter. Sandbox Financial Partners LLC now owns 5,837 shares of the oil and gas company’s stock valued at $976,000 after buying an additional 98 shares during the last quarter. Procyon Advisors LLC lifted its stake in Chevron by 9.3% during the 1st quarter. Procyon Advisors LLC now owns 43,153 shares of the oil and gas company’s stock valued at $7,067,000 after acquiring an additional 3,654 shares in the last quarter. Finally, Davis Capital Management boosted its holdings in Chevron by 81.3% during the 1st quarter. Davis Capital Management now owns 2,207 shares of the oil and gas company’s stock worth $369,000 after acquiring an additional 990 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 2.4%

Shares of CVX opened at $140.21 on Friday. The firm has a market cap of $244.86 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The business has a 50-day moving average of $138.98 and a 200 day moving average of $149.81.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.93 earnings per share. As a group, research analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.88%. Chevron’s dividend payout ratio is currently 78.17%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Mizuho lowered 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. Hsbc Global Res lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. UBS Group decreased 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. Finally, Barclays lowered Chevron from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company 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.