Allen Wealth Management LLC Has $4.66 Million Stock Position in Chevron Corporation $CVX

Allen Wealth Management LLC lifted its position in Chevron Corporation (NYSE:CVX) by 0.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 27,825 shares of the oil and gas company’s stock after purchasing an additional 176 shares during the period. Chevron comprises approximately 3.2% of Allen Wealth Management LLC’s holdings, making the stock its 6th biggest holding. Allen Wealth Management LLC’s holdings in Chevron were worth $4,655,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd raised its stake in shares of Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 122 shares in the last quarter. 10Elms LLP purchased a new position in shares of Chevron in the 4th quarter worth about $29,000. Elequin Capital LP purchased a new position in Chevron in the 1st quarter worth about $31,000. Navigoe LLC purchased a new stake in shares of Chevron during the 4th quarter valued at about $33,000. Finally, IFS Advisors LLC grew its stake 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 valued at $36,000 after acquiring an additional 116 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVX has been the subject of a number of research reports. Raymond James Financial reiterated an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Scotiabank reaffirmed a “sector perform” rating and set a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Barclays reissued an “equal weight” rating on shares of Chevron in a report on Tuesday, July 15th. Hsbc Global Res cut Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $164.11.

Chevron Trading Up 0.9%

Chevron stock opened at $156.52 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The company’s fifty day moving average price is $150.13 and its two-hundred day moving average price is $148.49. The company has a market capitalization of $270.46 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 2.35 and a beta of 0.87. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.55 earnings per share. On average, analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date is Tuesday, August 19th. Chevron’s payout ratio is 88.03%.

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.