Blodgett Wealth Advisors LLC Has $605,000 Stock Holdings in Chevron Co. (NYSE:CVX)

Blodgett Wealth Advisors LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 5.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,618 shares of the oil and gas company’s stock after selling 225 shares during the period. Blodgett Wealth Advisors LLC’s holdings in Chevron were worth $605,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Affinity Capital Advisors LLC increased its holdings in shares of Chevron by 23.2% in the 1st quarter. Affinity Capital Advisors LLC now owns 4,799 shares of the oil and gas company’s stock valued at $803,000 after purchasing an additional 904 shares during the period. Dynamic Advisor Solutions LLC grew its position in Chevron by 2.0% during the first quarter. Dynamic Advisor Solutions LLC now owns 116,099 shares of the oil and gas company’s stock valued at $19,422,000 after purchasing an additional 2,317 shares in the last quarter. Tcfg Wealth Management LLC increased its stake in Chevron by 1.8% in the 1st quarter. Tcfg Wealth Management LLC now owns 20,740 shares of the oil and gas company’s stock valued at $3,470,000 after buying an additional 374 shares during the period. Motive Wealth Advisors purchased a new stake in Chevron in the 1st quarter worth approximately $211,000. Finally, Grant Private Wealth Management Inc boosted its stake in shares of Chevron by 13.2% during the 1st quarter. Grant Private Wealth Management Inc now owns 2,261 shares of the oil and gas company’s stock valued at $378,000 after buying an additional 264 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

NYSE CVX opened at $145.74 on Friday. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a fifty day simple moving average of $138.53 and a 200 day simple moving average of $149.11. 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 company has a market cap of $254.52 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last released its 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 firm had revenue of $47.61 billion during 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 business’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.93 EPS. On average, sell-side analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CVX. BNP Paribas downgraded shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Barclays lowered Chevron from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. HSBC lowered Chevron from a “buy” rating to a “hold” rating and reduced their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Mizuho dropped their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Finally, Piper Sandler cut their price objective on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.