Tounjian Advisory Partners LLC Takes $2.83 Million Position in Chevron Co. (NYSE:CVX)

Tounjian Advisory Partners LLC acquired a new position in shares of Chevron Co. (NYSE:CVX) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 16,890 shares of the oil and gas company’s stock, valued at approximately $2,826,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Life Planning Partners Inc bought a new stake in Chevron during the 4th quarter worth approximately $25,000. IMG Wealth Management Inc. acquired a new stake in shares of Chevron during the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron in the 4th quarter valued at $29,000. 10Elms LLP bought a new stake in Chevron in the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC boosted its stake 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. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wells Fargo & Company cut their price target on Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. TD Cowen reduced their price target on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Piper Sandler decreased their price target on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective on the stock. in a research report on Tuesday, May 6th. Finally, Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $160.24.

Chevron Stock Up 2.4%

CVX stock opened at $140.21 on Monday. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The business’s 50 day simple moving average is $138.98 and its 200 day simple moving average is $149.65. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $244.86 billion, a PE ratio of 14.42, 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, beating the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion for 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 company’s revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.93 earnings per share. As a group, research analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s dividend 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.