Jaffetilchin Investment Partners LLC Increases Holdings in Chevron Corporation (NYSE:CVX)

Jaffetilchin Investment Partners LLC increased its holdings in shares of Chevron Corporation (NYSE:CVX) by 12.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,472 shares of the oil and gas company’s stock after purchasing an additional 1,414 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Chevron were worth $2,086,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. purchased a new stake in Chevron during the 4th quarter worth $25,000. Life Planning Partners Inc purchased a new stake in Chevron during the 4th quarter worth $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Chevron during the 4th quarter worth $29,000. 10Elms LLP purchased a new stake in Chevron during the 4th quarter worth $29,000. Finally, Fairway Wealth LLC boosted its position in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 88 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on CVX shares. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Mizuho cut their price objective on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Barclays lowered shares of Chevron from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Redburn Atlantic reiterated a “sell” rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and cut their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $160.29.

Chevron Stock Performance

Shares of Chevron stock opened at $143.87 on Friday. The firm has a market cap of $251.26 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 2.54 and a beta of 0.83. The firm’s 50-day simple moving average is $140.20 and its 200-day simple moving average is $148.27. 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 Corporation has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for 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 company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.93 EPS. Equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.75%. Chevron’s dividend payout ratio (DPR) is 78.17%.

Chevron 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.