Inlight Wealth Management LLC Invests $118,000 in Chevron Corporation (NYSE:CVX)

Inlight Wealth Management LLC bought a new position in shares of Chevron Corporation (NYSE:CVX) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 704 shares of the oil and gas company’s stock, valued at approximately $118,000.

A number of other large investors have also modified their holdings of CVX. IMG Wealth Management Inc. purchased a new position in shares of Chevron during the 4th quarter worth approximately $25,000. Life Planning Partners Inc purchased a new position in Chevron in the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron in the 4th quarter valued at approximately $29,000. 10Elms LLP purchased a new position in Chevron in the 4th quarter valued at approximately $29,000. Finally, Fairway Wealth LLC increased 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 valued at $30,000 after purchasing an additional 88 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of NYSE:CVX opened at $149.36 on Friday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The business’s fifty day moving average price is $139.37 and its two-hundred day moving average price is $148.65. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The stock has a market cap of $260.84 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 2.63 and a beta of 0.83.

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 return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter last year, the firm earned $2.93 earnings per share. The business’s revenue was down 2.3% on a year-over-year basis. On average, analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm 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. This represents a $6.84 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is 78.17%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CVX shares. Barclays downgraded Chevron from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. HSBC downgraded Chevron from a “buy” rating to a “hold” rating and dropped their price objective for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. TD Cowen dropped their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, May 5th. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Finally, Redburn Atlantic reaffirmed a “sell” rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of “Hold” and an average 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.