Midwest Professional Planners LTD. Acquires 247 Shares of Chevron Corporation (NYSE:CVX)

Midwest Professional Planners LTD. grew its holdings in shares of Chevron Corporation (NYSE:CVX) by 3.3% in the first quarter, Holdings Channel.com reports. The firm owned 7,630 shares of the oil and gas company’s stock after buying an additional 247 shares during the period. Midwest Professional Planners LTD.’s holdings in Chevron were worth $1,276,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CVX. IMG Wealth Management Inc. purchased a new position in shares of Chevron in the fourth quarter valued at $25,000. Life Planning Partners Inc bought a new stake in Chevron during the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Chevron in the 4th quarter valued at about $29,000. 10Elms LLP purchased a new stake in shares of Chevron in the 4th quarter valued at about $29,000. Finally, Navigoe LLC purchased a new stake in shares of Chevron in the 4th quarter valued at about $33,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Down 2.3%

CVX opened at $151.80 on Tuesday. The business has a 50 day simple moving average of $142.95 and a two-hundred day simple moving average of $148.52. The firm has a market capitalization of $265.10 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 2.63 and a beta of 0.83. 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 one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS 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 return on equity of 10.73% and a net margin of 7.76%. Chevron’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.93 EPS. Analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.51%. Chevron’s dividend payout ratio is 78.17%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective for the company. in a report on Tuesday, May 6th. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Hsbc Global Res downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Finally, Mizuho dropped their price objective on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $161.65.

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.