Prevail Innovative Wealth Advisors LLC Purchases 3,246 Shares of Chevron Corporation (NYSE:CVX)

Prevail Innovative Wealth Advisors LLC grew its holdings in Chevron Corporation (NYSE:CVX) by 144.8% in the first quarter, Holdings Channel reports. The firm owned 5,488 shares of the oil and gas company’s stock after buying an additional 3,246 shares during the quarter. Prevail Innovative Wealth Advisors LLC’s holdings in Chevron were worth $918,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. IMG Wealth Management Inc. bought a new stake in shares of Chevron in the 4th quarter worth $25,000. Life Planning Partners Inc purchased a new stake in shares of Chevron during the 4th quarter valued at about $25,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Chevron during the 4th quarter valued at about $29,000. 10Elms LLP purchased a new stake in shares of Chevron during the 4th quarter valued at about $29,000. Finally, Navigoe LLC purchased a new stake in shares of Chevron during the 4th quarter valued at about $33,000. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. UBS Group dropped their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Scotiabank reaffirmed a “sector perform” rating and set a $160.00 price target (up previously from $143.00) on shares of Chevron in a report on Friday. Mizuho dropped their price target on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Barclays raised their price target on shares of Chevron from $152.00 to $156.00 and gave the company an “equal weight” rating in a report on Monday, July 7th. Finally, TD Cowen lowered their price objective on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $161.65.

Chevron Price Performance

NYSE CVX opened at $151.80 on Tuesday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a market cap of $265.10 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 2.63 and a beta of 0.83. The company’s 50 day moving average is $142.95 and its two-hundred day moving average is $148.52. 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 (NYSE:CVX) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS 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 company had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter last year, the business earned $2.93 EPS. The firm’s revenue was down 2.3% compared to the same quarter last year. As a group, research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date was Monday, May 19th. Chevron’s payout ratio is 78.17%.

Chevron 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.