Leibman Financial Services Inc. Raises Stock Position in Chevron Co. (NYSE:CVX)

Leibman Financial Services Inc. lifted its position in shares of Chevron Co. (NYSE:CVX) by 6.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 19,573 shares of the oil and gas company’s stock after buying an additional 1,107 shares during the period. Chevron makes up 2.5% of Leibman Financial Services Inc.’s holdings, making the stock its 13th largest holding. Leibman Financial Services Inc.’s holdings in Chevron were worth $3,274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. IMG Wealth Management Inc. acquired a new position in shares of Chevron during the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron during the fourth quarter worth $29,000. 10Elms LLP acquired a new position in shares of Chevron in the fourth quarter worth $29,000. Fairway Wealth LLC raised its position 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 buying an additional 88 shares during the last quarter. Finally, Navigoe LLC purchased a new position in shares of Chevron during the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on CVX shares. UBS Group lowered their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Mizuho reduced their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. BNP Paribas downgraded Chevron to a “cautious” rating in a report on Tuesday, April 15th. Finally, TD Cowen reduced their target price on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, May 5th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $160.24.

Chevron Price Performance

Shares of NYSE CVX opened at $137.80 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The business has a 50 day moving average price of $141.27 and a two-hundred day moving average price of $150.27. The firm has a market cap of $240.64 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.93 earnings per share. Sell-side analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s dividend payout ratio is currently 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.