Whelan Financial Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

Whelan Financial lifted its position in Chevron Co. (NYSE:CVX) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,117 shares of the oil and gas company’s stock after purchasing an additional 83 shares during the period. Whelan Financial’s holdings in Chevron were worth $452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. purchased a new stake in shares of Chevron during the 4th quarter worth about $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron in the 4th quarter valued at about $29,000. Fairway Wealth LLC raised its holdings in Chevron by 75.9% in 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 period. Navigoe LLC acquired a new position in Chevron in the 4th quarter worth about $33,000. Finally, New Wave Wealth Advisors LLC purchased a new position in Chevron during the fourth quarter worth approximately $39,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Down 2.5%

Shares of NYSE CVX opened at $138.52 on Tuesday. The stock has a market cap of $241.91 billion, a PE ratio of 14.25, a P/E/G 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 Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a 50-day moving average of $146.37 and a 200 day moving average of $151.71.

Chevron (NYSE:CVX) last posted its quarterly earnings results 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 period in the prior year, the business earned $2.93 earnings per share. The business’s revenue was down 2.3% compared to the same quarter last year. As a group, sell-side analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.94%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s payout ratio is currently 78.17%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Truist Financial cut their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Raymond James reduced their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective on the stock. in a report on Tuesday, May 6th. Finally, BNP Paribas cut shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average 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.