Successful Portfolios LLC Purchases 671 Shares of Chevron Co. (NYSE:CVX)

Successful Portfolios LLC increased its position in shares of Chevron Co. (NYSE:CVX) by 15.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,897 shares of the oil and gas company’s stock after buying an additional 671 shares during the period. Successful Portfolios LLC’s holdings in Chevron were worth $730,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Cantor Fitzgerald Investment Advisor L.P increased its holdings in shares of Chevron by 85.1% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock worth $25,908,000 after purchasing an additional 73,141 shares during the period. Axiom Financial Strategies LLC increased its stake in Chevron by 25.2% during the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock valued at $1,155,000 after acquiring an additional 1,476 shares during the period. GQG Partners LLC raised its holdings in Chevron by 4.7% in the 1st quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock valued at $6,598,000 after acquiring an additional 1,813 shares in the last quarter. Lumature Wealth Partners LLC lifted its position in shares of Chevron by 43.5% in the 1st quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after acquiring an additional 1,770 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of Chevron by 13.8% during the 1st quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after purchasing an additional 250,840 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

CVX traded up $1.39 during midday trading on Thursday, hitting $157.74. The company had a trading volume of 8,232,108 shares, compared to its average volume of 8,731,655. The firm’s 50-day simple moving average is $151.60 and its 200-day simple moving average is $152.67. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.88. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The company has a market capitalization of $292.97 billion, a PE ratio of 13.90, a P/E/G ratio of 2.38 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter in the prior year, the company posted $4.09 earnings per share. The firm’s revenue was down 16.5% on a year-over-year basis. Equities research analysts predict that Chevron Co. will post 13.04 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 4.13%. Chevron’s dividend payout ratio is presently 57.39%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent research reports. Piper Sandler cut their target price on Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, March 14th. TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Mizuho upped their target price on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target for the company. in a research note on Tuesday, January 16th. Finally, Royal Bank of Canada lifted their price objective on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $180.39.

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.