Councilmark Asset Management LLC Makes New $220,000 Investment in Chevron Corporation (NYSE:CVX)

Councilmark Asset Management LLC acquired a new position in shares of Chevron Corporation (NYSE:CVX) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,315 shares of the oil and gas company’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Atlantic Family Wealth LLC increased its holdings in Chevron by 5.3% during the 1st quarter. Atlantic Family Wealth LLC now owns 2,080 shares of the oil and gas company’s stock worth $348,000 after purchasing an additional 104 shares in the last quarter. Cornerstone Advisory LLC increased its holdings in Chevron by 2.0% during the 1st quarter. Cornerstone Advisory LLC now owns 5,160 shares of the oil and gas company’s stock worth $863,000 after purchasing an additional 100 shares in the last quarter. Providence Wealth Advisors LLC grew its holdings in shares of Chevron by 7.2% in the first quarter. Providence Wealth Advisors LLC now owns 15,167 shares of the oil and gas company’s stock valued at $2,540,000 after acquiring an additional 1,022 shares in the last quarter. Investment Management Corp VA ADV grew its holdings in shares of Chevron by 171.3% in the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 149 shares in the last quarter. Finally, Accretive Wealth Partners LLC grew its holdings in shares of Chevron by 15.0% in the first quarter. Accretive Wealth Partners LLC now owns 9,965 shares of the oil and gas company’s stock valued at $1,667,000 after acquiring an additional 1,303 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Trading Down 0.6%

Shares of CVX stock opened at $154.84 on Friday. The business’s fifty day moving average is $145.12 and its 200 day moving average is $148.82. 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 company has a market capitalization of $270.40 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 2.44 and a beta of 0.83.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating 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 business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter last year, the business posted $2.93 earnings per share. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 dividend on an annualized basis and a yield of 4.42%. Chevron’s payout ratio is 78.17%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Mizuho reduced their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Barclays reissued an “equal weight” rating on shares of Chevron in a report on Tuesday, July 15th. Piper Sandler reissued an “overweight” rating on shares of Chevron in a report on Tuesday, July 15th. Wells Fargo & Company increased their price objective on Chevron from $165.00 to $178.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a report on Friday, July 18th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $162.13.

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.