Keystone Wealth Services LLC Invests $236,000 in Chevron Co. (NYSE:CVX)

Keystone Wealth Services LLC bought a new position in shares of Chevron Co. (NYSE:CVX) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,413 shares of the oil and gas company’s stock, valued at approximately $236,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Geode Capital Management LLC lifted its position in shares of Chevron by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock worth $5,247,142,000 after purchasing an additional 392,916 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Chevron by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock valued at $4,613,960,000 after buying an additional 746,806 shares during the period. Norges Bank purchased a new position in shares of Chevron during the fourth quarter valued at $3,017,750,000. Northern Trust Corp increased its stake in shares of Chevron by 7.3% during the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock valued at $2,965,135,000 after buying an additional 1,394,091 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Chevron by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock valued at $2,881,280,000 after buying an additional 410,460 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Shares of CVX stock opened at $146.07 on Tuesday. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm has a market capitalization of $255.09 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock’s 50-day simple moving average is $138.72 and its 200-day simple moving average is $148.91.

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

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is 78.17%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Hsbc Global Res lowered Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Piper Sandler cut their price target on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. 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 research note on Monday, May 5th. TD Cowen cut their price target on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Finally, UBS Group cut their target price on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Chevron presently has a consensus 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.