CVA Family Office LLC Has $1.59 Million Position in Chevron Co. (NYSE:CVX)

CVA Family Office LLC grew its stake in shares of Chevron Co. (NYSE:CVX) by 2.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 9,496 shares of the oil and gas company’s stock after buying an additional 203 shares during the period. CVA Family Office LLC’s holdings in Chevron were worth $1,589,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in CVX. Elevation Point Wealth Partners LLC raised its position in Chevron by 3.4% in the first quarter. Elevation Point Wealth Partners LLC now owns 22,197 shares of the oil and gas company’s stock worth $3,713,000 after purchasing an additional 734 shares in the last quarter. West Branch Capital LLC raised its position in Chevron by 30.6% in the first quarter. West Branch Capital LLC now owns 12,653 shares of the oil and gas company’s stock worth $2,117,000 after purchasing an additional 2,964 shares in the last quarter. Everhart Financial Group Inc. raised its position in Chevron by 22.3% in the first quarter. Everhart Financial Group Inc. now owns 10,859 shares of the oil and gas company’s stock worth $1,817,000 after purchasing an additional 1,983 shares in the last quarter. Smithbridge Asset Management Inc. DE acquired a new position in Chevron in the first quarter worth about $962,000. Finally, Donald L. Hagan LLC raised its position in Chevron by 3.5% in the first quarter. Donald L. Hagan LLC now owns 6,485 shares of the oil and gas company’s stock worth $1,085,000 after purchasing an additional 218 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

CVX opened at $145.74 on Friday. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company’s 50 day simple moving average is $138.53 and its 200-day simple moving average is $149.20. The stock has a market capitalization of $254.52 billion, a P/E ratio of 14.99, 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 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same period in the prior year, the firm earned $2.93 earnings per share. Chevron’s revenue was down 2.3% compared to the same quarter last year. Sell-side analysts anticipate 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 was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.69%. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

Analysts Set New Price Targets

Several research analysts recently issued reports on CVX shares. UBS Group dropped their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, April 7th. 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. Wells Fargo & Company dropped their price target on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Redburn Atlantic reaffirmed a “sell” rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Finally, Piper Sandler decreased their price objective on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average 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.