Segment Wealth Management LLC Acquires 634 Shares of Chevron Corporation (NYSE:CVX)

Segment Wealth Management LLC increased its stake in shares of Chevron Corporation (NYSE:CVX) by 2.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 29,245 shares of the oil and gas company’s stock after purchasing an additional 634 shares during the period. Segment Wealth Management LLC’s holdings in Chevron were worth $4,892,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. DMKC Advisory Services LLC boosted its stake in Chevron by 1.1% during the first quarter. DMKC Advisory Services LLC now owns 12,512 shares of the oil and gas company’s stock valued at $2,093,000 after buying an additional 132 shares during the period. Proathlete Wealth Management LLC purchased a new stake in Chevron in the first quarter worth approximately $159,000. Abundance Wealth Counselors boosted its stake in shares of Chevron by 7.0% in the 1st quarter. Abundance Wealth Counselors now owns 16,014 shares of the oil and gas company’s stock valued at $2,662,000 after purchasing an additional 1,049 shares in the last quarter. Osborne Partners Capital Management LLC boosted its position in Chevron by 1.9% during the first quarter. Osborne Partners Capital Management LLC now owns 11,566 shares of the oil and gas company’s stock valued at $1,935,000 after buying an additional 215 shares during the period. Finally, Good Steward Wealth Advisors LLC purchased a new stake in Chevron during the 1st quarter valued at about $972,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 0.8%

Shares of NYSE:CVX opened at $149.36 on Friday. The stock’s 50-day simple moving average is $139.37 and its two-hundred day simple moving average is $148.72. The stock has a market capitalization of $260.84 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 2.60 and a beta of 0.83. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

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 analysts’ consensus estimates of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter last year, the firm posted $2.93 earnings per share. The firm’s revenue was down 2.3% compared to the same quarter last year. Analysts expect that Chevron Corporation 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 given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date was Monday, May 19th. Chevron’s payout ratio is 78.17%.

Analysts Set New Price Targets

CVX has been the subject of several analyst reports. 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. Piper Sandler dropped 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. Mizuho cut their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Barclays cut shares of Chevron from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Finally, HSBC downgraded shares of 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 research report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.