Sweeney & Michel LLC Acquires Shares of 5,016 Chevron Co. (NYSE:CVX)

Sweeney & Michel LLC bought a new position in Chevron Co. (NYSE:CVX) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,016 shares of the oil and gas company’s stock, valued at approximately $839,000.

A number of other large investors also recently modified their holdings of the stock. Life Planning Partners Inc bought a new position in Chevron in the 4th quarter worth approximately $25,000. IMG Wealth Management Inc. acquired a new stake in shares of Chevron in the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron during the fourth quarter worth $29,000. 10Elms LLP bought a new stake in shares of Chevron during the fourth quarter worth $29,000. Finally, Fairway Wealth LLC lifted its stake in shares of Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 88 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 1.1%

NYSE:CVX opened at $136.43 on Monday. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The stock has a 50-day moving average price of $141.88 and a two-hundred day moving average price of $150.44. The stock has a market cap of $238.26 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.46 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same period in the previous year, the firm earned $2.93 EPS. Chevron’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 5.01%. The ex-dividend date is Monday, May 19th. Chevron’s dividend payout ratio is 78.17%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CVX. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. BNP Paribas lowered shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Raymond James dropped their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company cut their price objective on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Finally, Hsbc Global Res lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $160.24.

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.