Ibex Wealth Advisors Raises Stock Holdings in Chevron Co. (NYSE:CVX)

Ibex Wealth Advisors grew its stake in Chevron Co. (NYSE:CVX) by 2.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,640 shares of the oil and gas company’s stock after buying an additional 1,216 shares during the quarter. Ibex Wealth Advisors’ holdings in Chevron were worth $7,970,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. SJS Investment Consulting Inc. increased its position in Chevron by 38.2% in the first quarter. SJS Investment Consulting Inc. now owns 1,096 shares of the oil and gas company’s stock worth $183,000 after buying an additional 303 shares in the last quarter. Sonora Investment Management Group LLC boosted its stake in shares of Chevron by 5.1% in the first quarter. Sonora Investment Management Group LLC now owns 87,400 shares of the oil and gas company’s stock worth $14,621,000 after acquiring an additional 4,257 shares during the period. Simplicity Wealth LLC boosted its stake in shares of Chevron by 180.0% in the first quarter. Simplicity Wealth LLC now owns 17,162 shares of the oil and gas company’s stock worth $2,871,000 after acquiring an additional 11,032 shares during the period. GAMMA Investing LLC boosted its stake in shares of Chevron by 27.3% in the first quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock worth $5,408,000 after acquiring an additional 6,928 shares during the period. Finally, First National Bank Sioux Falls boosted its stake in Chevron by 11.4% during the first quarter. First National Bank Sioux Falls now owns 4,836 shares of the oil and gas company’s stock valued at $809,000 after buying an additional 495 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.4%

CVX opened at $140.76 on Tuesday. The stock’s fifty day moving average is $138.46 and its two-hundred day moving average is $149.50. The company has a market capitalization of $245.82 billion, a P/E ratio of 14.48, a PEG ratio of 1.46 and a beta of 0.83. 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.

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 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 for the quarter, compared to the consensus estimate of $49.05 billion. During the same period last year, the business posted $2.93 EPS. The business’s revenue was down 2.3% compared to the same quarter last year. Analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.86%. Chevron’s payout ratio is 78.17%.

Analyst Ratings Changes

A number of brokerages recently commented on CVX. Redburn Atlantic reissued a “sell” rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Wells Fargo & Company dropped 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. UBS Group dropped their price target on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. HSBC lowered Chevron from a “buy” rating to a “hold” rating and dropped their price target for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, Scotiabank lowered 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 note on Friday, April 11th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.