Chevron Corporation (NYSE:CVX) Shares Purchased by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC raised its holdings in Chevron Corporation (NYSE:CVX) by 1.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,195 shares of the oil and gas company’s stock after acquiring an additional 303 shares during the period. Cornerstone Wealth Management LLC’s holdings in Chevron were worth $3,880,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Parkside Financial Bank & Trust grew its holdings in Chevron by 0.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock valued at $2,207,000 after buying an additional 66 shares in the last quarter. Berkeley Capital Partners LLC increased its position in Chevron by 0.4% during the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock worth $2,572,000 after purchasing an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC raised its stake in Chevron by 6.1% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company’s stock worth $171,000 after purchasing an additional 68 shares during the period. Acorn Wealth Advisors LLC boosted its holdings in Chevron by 3.4% in the 4th quarter. Acorn Wealth Advisors LLC now owns 2,092 shares of the oil and gas company’s stock valued at $303,000 after purchasing an additional 69 shares during the last quarter. Finally, Unionview LLC grew its stake in shares of Chevron by 3.4% in the 4th quarter. Unionview LLC now owns 2,149 shares of the oil and gas company’s stock valued at $311,000 after buying an additional 70 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CVX shares. Wells Fargo & Company decreased their price objective on Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Redburn Atlantic reiterated a “sell” rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. BNP Paribas lowered shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a research note on Tuesday, May 6th. Finally, Mizuho reduced their price target on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $160.24.

Chevron Trading Up 1.9%

CVX opened at $148.86 on Wednesday. The business has a fifty day moving average price of $138.78 and a 200 day moving average price of $148.91. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a market capitalization of $259.97 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 2.56 and a beta of 0.83.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS 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 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 previous year, the company posted $2.93 earnings per share. The business’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 earnings per share 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 issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

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.