Copley Financial Group Inc. Increases Stock Holdings in Chevron Co. (NYSE:CVX)

Copley Financial Group Inc. raised its position in shares of Chevron Co. (NYSE:CVX) by 8.5% in the fourth quarter, HoldingsChannel reports. The firm owned 5,998 shares of the oil and gas company’s stock after buying an additional 471 shares during the quarter. Chevron makes up 0.7% of Copley Financial Group Inc.’s investment portfolio, making the stock its 23rd largest position. Copley Financial Group Inc.’s holdings in Chevron were worth $869,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CVX. Life Planning Partners Inc purchased a new stake in Chevron in the fourth quarter worth about $25,000. 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 stake in Chevron in the 4th quarter worth approximately $29,000. 10Elms LLP purchased a new stake in Chevron in the 4th quarter worth approximately $29,000. Finally, Fairway Wealth LLC raised its stake 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 acquiring an additional 88 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE:CVX opened at $136.66 on Tuesday. The firm has a fifty day simple moving average of $144.12 and a two-hundred day simple moving average of $151.03. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. 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 stock has a market capitalization of $238.66 billion, a P/E ratio of 14.06, a PEG ratio of 1.46 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 for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same period in the previous year, the firm posted $2.93 earnings per share. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. TD Cowen dropped their price target 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. UBS Group dropped 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. Wells Fargo & Company cut their price target on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research note 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. Finally, Piper Sandler cut their target price on Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. 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. According to MarketBeat.com, Chevron presently has a consensus rating of “Hold” and an average target price of $160.24.

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.