Ridgewood Investments LLC Acquires 403 Shares of Chevron Corporation (NYSE:CVX)

Ridgewood Investments LLC grew its holdings in Chevron Corporation (NYSE:CVX) by 11.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,062 shares of the oil and gas company’s stock after purchasing an additional 403 shares during the quarter. Ridgewood Investments LLC’s holdings in Chevron were worth $680,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CVX. Life Planning Partners Inc bought a new stake in Chevron during the 4th quarter valued at $25,000. 10Elms LLP purchased a new stake in shares of Chevron during the 4th quarter worth $29,000. Navigoe LLC bought a new stake in Chevron during the fourth quarter valued at about $33,000. IFS Advisors LLC grew its stake in Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 116 shares during the last quarter. Finally, Cloud Capital Management LLC bought a new position in Chevron in the first quarter worth about $39,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.6%

NYSE CVX opened at $154.84 on Friday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The company has a market capitalization of $270.40 billion, a PE ratio of 17.70, a P/E/G ratio of 2.44 and a beta of 0.83. The company has a fifty day moving average of $145.12 and a 200 day moving average of $148.82.

Chevron (NYSE:CVX) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $49.05 billion. During the same quarter last year, the business posted $2.93 EPS. The company’s revenue was down 2.3% on a year-over-year basis. Research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date was Monday, May 19th. Chevron’s payout ratio is presently 78.17%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CVX. Hsbc Global Res cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. UBS Group lowered their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. TD Cowen reduced their price target on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Piper Sandler reissued an “overweight” rating on shares of Chevron in a research report on Tuesday, July 15th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $162.13.

About Chevron

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.