Graypoint LLC Has $4.54 Million Stock Holdings in Chevron Corporation (NYSE:CVX)

Graypoint LLC boosted its stake in shares of Chevron Corporation (NYSE:CVX) by 5.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 27,109 shares of the oil and gas company’s stock after buying an additional 1,435 shares during the quarter. Graypoint LLC’s holdings in Chevron were worth $4,535,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CVX. Life Planning Partners Inc acquired a new position in Chevron during the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron during the 4th quarter worth approximately $29,000. 10Elms LLP acquired a new position in shares of Chevron during the 4th quarter worth approximately $29,000. Navigoe LLC acquired a new position in shares of Chevron during the 4th quarter worth approximately $33,000. Finally, IFS Advisors LLC increased its holdings in shares of Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 116 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Piper Sandler reissued an “overweight” rating on shares of Chevron in a report on Tuesday. Mizuho decreased their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. BNP Paribas lowered Chevron to a “cautious” rating in a report on Tuesday, April 15th. Wells Fargo & Company reissued an “overweight” rating and set a $165.00 target price (up from $164.00) on shares of Chevron in a report on Thursday, June 26th. Finally, UBS Group decreased their target price on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $161.65.

Chevron Stock Performance

CVX opened at $149.96 on Thursday. The firm has a market cap of $261.88 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 2.56 and a beta of 0.83. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. 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 business’s fifty day moving average is $143.53 and its 200-day moving average is $148.55.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share 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 during the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the prior year, the company earned $2.93 EPS. Chevron’s revenue for the quarter was down 2.3% on a year-over-year basis. Sell-side analysts expect 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. Investors of record on Monday, May 19th were given 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 4.56%. Chevron’s dividend payout ratio is currently 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.