Masso Torrence Wealth Management Inc. Purchases Shares of 1,319 Chevron Corporation (NYSE:CVX)

Masso Torrence Wealth Management Inc. purchased a new stake in shares of Chevron Corporation (NYSE:CVX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,319 shares of the oil and gas company’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Parkside Financial Bank & Trust lifted its position in shares of Chevron by 0.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock worth $2,207,000 after purchasing an additional 66 shares in the last quarter. Berkeley Capital Partners LLC lifted its position in shares of Chevron by 0.4% during the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock worth $2,572,000 after purchasing an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its position in shares of Chevron by 6.1% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company’s stock worth $171,000 after purchasing an additional 68 shares in the last quarter. Acorn Wealth Advisors LLC lifted its position in shares of Chevron by 3.4% during the fourth quarter. Acorn Wealth Advisors LLC now owns 2,092 shares of the oil and gas company’s stock worth $303,000 after purchasing an additional 69 shares in the last quarter. Finally, Wealthstream Advisors Inc. lifted its position in shares of Chevron by 4.4% during the fourth quarter. Wealthstream Advisors Inc. now owns 1,664 shares of the oil and gas company’s stock worth $241,000 after purchasing an additional 70 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CVX. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and reduced their target price for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Hsbc Global Res cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. TD Cowen reduced their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Redburn Atlantic restated a “sell” rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Finally, Barclays lowered shares of Chevron from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $171.00 to $152.00 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 company. According to data from MarketBeat, Chevron currently has a consensus rating of “Hold” and an average price target of $160.24.

Chevron Stock Up 0.8%

CVX stock opened at $149.36 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a fifty day moving average price of $139.37 and a two-hundred day moving average price of $148.65. The firm has a market cap of $260.84 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 2.63 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, beating the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the previous year, the firm earned $2.93 earnings per share. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. Research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared 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. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.58%. Chevron’s dividend payout ratio is currently 78.17%.

About Chevron

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.