LMG Wealth Partners LLC Has $11.81 Million Position in Chevron Corporation (NYSE:CVX)

LMG Wealth Partners LLC boosted its position in shares of Chevron Corporation (NYSE:CVX) by 0.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,579 shares of the oil and gas company’s stock after purchasing an additional 532 shares during the quarter. Chevron comprises about 2.6% of LMG Wealth Partners LLC’s portfolio, making the stock its 7th biggest position. LMG Wealth Partners LLC’s holdings in Chevron were worth $11,807,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. IMG Wealth Management Inc. acquired a new stake in Chevron during the fourth quarter worth about $25,000. Life Planning Partners Inc acquired a new stake in shares of Chevron during the fourth quarter valued at about $25,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron during the fourth quarter valued at about $29,000. 10Elms LLP acquired a new stake in shares of Chevron during the fourth quarter valued at about $29,000. Finally, Navigoe LLC acquired a new position in shares of Chevron in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock opened at $150.71 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average price is $143.24 and its two-hundred day moving average price is $148.54. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a market cap of $263.20 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 2.57 and a beta of 0.83.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter last year, the business posted $2.93 EPS. Chevron’s revenue was down 2.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.54%. Chevron’s dividend payout ratio is 78.17%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Mizuho lowered their price target 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. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and lowered their price target for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Hsbc Global Res cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Wells Fargo & Company restated an “overweight” rating and issued a $165.00 target price (up from $164.00) on shares of Chevron in a report on Thursday, June 26th. Finally, UBS Group cut their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Chevron presently has a consensus rating of “Hold” and a consensus price target of $161.65.

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.