Ameriflex Group Inc. Takes Position in Chevron Co. (NYSE:CVX)

Ameriflex Group Inc. bought a new stake in Chevron Co. (NYSE:CVX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,937 shares of the oil and gas company’s stock, valued at approximately $1,632,000. Chevron comprises approximately 0.7% of Ameriflex Group Inc.’s portfolio, making the stock its 26th largest holding.

Other institutional investors also recently modified their holdings of the company. Life Planning Partners Inc bought a new position in shares of Chevron in the fourth quarter valued at approximately $25,000. IMG Wealth Management Inc. bought a new position in shares of Chevron in the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron in the fourth quarter valued at approximately $29,000. 10Elms LLP bought a new position in shares of Chevron in the fourth quarter valued at approximately $29,000. Finally, Fairway Wealth LLC raised 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 valued at $30,000 after acquiring an additional 88 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CVX. Barclays cut shares of Chevron from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. TD Cowen dropped their price objective on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. BNP Paribas cut shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Finally, Truist Financial dropped their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $160.24.

Chevron Price Performance

Shares of CVX stock opened at $136.66 on Friday. 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 $238.66 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average of $144.66 and a 200-day moving average of $151.21.

Chevron (NYSE:CVX) last announced its quarterly earnings results 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. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.93 EPS. On average, equities research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

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

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.