Wayfinding Financial LLC Increases Stake in Chevron Corporation (NYSE:CVX)

Wayfinding Financial LLC grew its holdings in shares of Chevron Corporation (NYSE:CVX) by 9.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,901 shares of the oil and gas company’s stock after acquiring an additional 338 shares during the period. Wayfinding Financial LLC’s holdings in Chevron were worth $652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. IMG Wealth Management Inc. bought a new position in shares of Chevron during the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron during the 4th quarter valued at $29,000. 10Elms LLP purchased a new position in shares of Chevron in the fourth quarter valued at about $29,000. Fairway Wealth LLC boosted its stake in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 88 shares during the period. Finally, IFS Advisors LLC raised its stake in Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 116 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $160.00 to $143.00 in a report on Friday, April 11th. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and cut their price objective for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Barclays lowered shares of Chevron from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Redburn Atlantic reissued a “sell” rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, UBS Group cut their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. 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 stock currently has a consensus rating of “Hold” and a consensus target price of $160.41.

Chevron Stock Up 0.2%

Shares of Chevron stock opened at $148.23 on Friday. The firm’s 50 day moving average price is $141.16 and its 200-day moving average price is $148.07. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a market cap of $258.86 billion, a P/E ratio of 16.94, a PEG ratio of 2.51 and a beta of 0.83.

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, topping analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. 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 earned $2.93 EPS. On average, sell-side analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.61%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio is presently 78.17%.

About Chevron

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.