Kingswood Wealth Advisors LLC Has $5.36 Million Holdings in Chevron Corporation (NYSE:CVX)

Kingswood Wealth Advisors LLC boosted its holdings in shares of Chevron Corporation (NYSE:CVX) by 29.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 31,918 shares of the oil and gas company’s stock after acquiring an additional 7,179 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Chevron were worth $5,355,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. IMG Wealth Management Inc. bought a new stake in shares of Chevron during the fourth quarter worth approximately $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron during the fourth quarter worth approximately $29,000. 10Elms LLP bought a new stake in shares of Chevron during the fourth quarter worth approximately $29,000. Fairway Wealth LLC boosted its holdings in shares of Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 88 shares during the period. Finally, IFS Advisors LLC boosted its holdings in shares of Chevron by 119.6% during the first 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 period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.9%

NYSE CVX opened at $148.86 on Wednesday. The business has a fifty day moving average price of $138.78 and a two-hundred 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 fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a market capitalization of $259.97 billion, a PE ratio of 17.01, a PEG ratio of 2.56 and a beta of 0.83.

Chevron (NYSE:CVX) last released its earnings results 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 firm had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. During the same period in the prior year, the company earned $2.93 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis. Equities analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid 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 payout ratio is presently 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research analyst reports. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Piper Sandler reduced their price objective on Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. HSBC cut Chevron from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. UBS Group reduced their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. Finally, BNP Paribas cut Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $160.24.

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.