MN Wealth Advisors LLC Increases Position in Chevron Corporation (NYSE:CVX)

MN Wealth Advisors LLC lifted its position in shares of Chevron Corporation (NYSE:CVX) by 4.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,790 shares of the oil and gas company’s stock after buying an additional 121 shares during the quarter. MN Wealth Advisors LLC’s holdings in Chevron were worth $467,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Wolf Group Capital Advisors acquired a new position in Chevron during the first quarter worth approximately $231,000. Cornerstone Wealth Management LLC increased its position in Chevron by 1.3% during the first quarter. Cornerstone Wealth Management LLC now owns 23,195 shares of the oil and gas company’s stock worth $3,880,000 after purchasing an additional 303 shares during the last quarter. Shepherd Financial Partners LLC increased its position in Chevron by 8.1% during the first quarter. Shepherd Financial Partners LLC now owns 4,764 shares of the oil and gas company’s stock worth $797,000 after purchasing an additional 356 shares during the last quarter. Clarius Group LLC increased its position in Chevron by 20.9% during the first quarter. Clarius Group LLC now owns 15,649 shares of the oil and gas company’s stock worth $2,618,000 after purchasing an additional 2,710 shares during the last quarter. Finally, Hemenway Trust Co LLC increased its position in Chevron by 2.4% during the first quarter. Hemenway Trust Co LLC now owns 154,289 shares of the oil and gas company’s stock worth $25,811,000 after purchasing an additional 3,556 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CVX. 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. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and dropped their price target for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. BNP Paribas lowered shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. UBS Group dropped their price objective 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. Finally, TD Cowen dropped their price objective 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. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Chevron has a consensus rating of “Hold” and an average price target of $160.24.

Chevron Price Performance

CVX opened at $148.86 on Wednesday. The company has a fifty day simple moving average of $138.78 and a 200 day simple moving average of $148.91. The firm has a market cap of $259.97 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 2.56 and a beta of 0.83. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business’s revenue was down 2.3% on a year-over-year basis. During the same period last year, the business earned $2.93 EPS. Equities research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared 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 yield of 4.59%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s payout ratio is 78.17%.

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.