Viewpoint Investment Partners Corp Makes New Investment in Chevron Co. (NYSE:CVX)

Viewpoint Investment Partners Corp purchased a new position in Chevron Co. (NYSE:CVX) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 3,100 shares of the oil and gas company’s stock, valued at approximately $519,000. Chevron makes up about 0.3% of Viewpoint Investment Partners Corp’s holdings, making the stock its 27th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new position in Chevron in the 4th quarter worth approximately $25,000. IMG Wealth Management Inc. acquired a new position in Chevron in the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron in the 4th quarter worth approximately $29,000. 10Elms LLP acquired a new position in Chevron in the 4th quarter worth approximately $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. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $145.74 on Friday. The company has a market capitalization of $254.52 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. 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 fifty day moving average price is $138.53 and its 200 day moving average price is $149.20.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping 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 company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter in the previous year, the firm posted $2.93 EPS. The business’s revenue was down 2.3% compared to the same quarter last year. As a group, analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.69%. Chevron’s payout ratio is 78.17%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and decreased their target price for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. TD Cowen decreased their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, May 5th. Wells Fargo & Company decreased their target price on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Finally, Mizuho decreased their target price on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.