Sax Wealth Advisors LLC Buys 3,865 Shares of Chevron Corporation $CVX

Sax Wealth Advisors LLC raised its stake in shares of Chevron Corporation (NYSE:CVX) by 73.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 9,108 shares of the oil and gas company’s stock after purchasing an additional 3,865 shares during the period. Sax Wealth Advisors LLC’s holdings in Chevron were worth $1,524,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. GQG Partners LLC bought a new position in shares of Chevron in the first quarter worth about $1,466,751,000. Nuveen LLC bought a new position in shares of Chevron in the first quarter worth about $1,362,232,000. GAMMA Investing LLC boosted its stake in shares of Chevron by 21,191.5% in the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock worth $904,746,000 after acquiring an additional 5,382,847 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Chevron by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after acquiring an additional 1,574,464 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Chevron by 7.3% in the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock worth $2,965,135,000 after acquiring an additional 1,394,091 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

NYSE:CVX opened at $157.8970 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $272.84 billion, a P/E ratio of 20.32, a P/E/G ratio of 2.31 and a beta of 0.87. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The business’s 50-day moving average is $151.21 and its 200 day moving average is $148.66.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the previous year, the business earned $2.55 earnings per share. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be given a dividend of $1.71 per share. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. Chevron’s dividend payout ratio is 88.03%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CVX. Hsbc Global Res lowered Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Piper Sandler upped their price objective on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research note on Monday. HSBC lowered Chevron from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 price objective on shares of Chevron in a research note on Thursday, July 31st. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Chevron presently has an average rating of “Hold” and an average price target of $163.95.

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.