Waverly Advisors LLC Boosts Stock Position in Chevron Co. (NYSE:CVX)

Waverly Advisors LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 24.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,200 shares of the oil and gas company’s stock after purchasing an additional 15,274 shares during the quarter. Waverly Advisors LLC’s holdings in Chevron were worth $11,182,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVX. Life Planning Partners Inc purchased a new stake in Chevron during the 4th quarter worth approximately $25,000. IMG Wealth Management Inc. purchased a new stake in Chevron during the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Chevron during the 4th quarter worth approximately $29,000. Fairway Wealth LLC increased its holdings in 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 during the last quarter. Finally, Navigoe LLC purchased a new stake in Chevron during the 4th quarter worth approximately $33,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on CVX. Redburn Atlantic restated a “sell” rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. HSBC downgraded Chevron from a “buy” rating to a “hold” rating and lowered their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Piper Sandler lowered their price target on Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Finally, Barclays downgraded Chevron from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Three 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 MarketBeat.com, the company has an average rating of “Hold” and an average price target of $160.24.

Chevron Trading Down 0.9%

NYSE:CVX opened at $137.21 on Wednesday. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The firm has a market capitalization of $239.62 billion, a P/E ratio of 14.12, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The business has a 50 day simple moving average of $146.04 and a 200 day simple moving average of $151.61.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the firm posted $2.93 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. Equities research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.99%. Chevron’s payout ratio is 78.17%.

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.