CCG Wealth Management LLC Acquires 145 Shares of Chevron Corporation (NYSE:CVX)

CCG Wealth Management LLC raised its holdings in Chevron Corporation (NYSE:CVX) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,334 shares of the oil and gas company’s stock after buying an additional 145 shares during the quarter. CCG Wealth Management LLC’s holdings in Chevron were worth $1,060,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVX. IMG Wealth Management Inc. bought a new stake in Chevron in the 4th quarter valued at $25,000. Life Planning Partners Inc bought a new stake in shares of Chevron in the 4th quarter worth about $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron in the 4th quarter worth about $29,000. 10Elms LLP bought a new stake in shares of Chevron in the 4th quarter worth about $29,000. Finally, Fairway Wealth LLC grew its holdings in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 88 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.8%

Shares of NYSE CVX opened at $149.36 on Friday. The firm’s 50-day simple moving average is $139.37 and its 200 day simple moving average is $148.72. The company has a market cap of $260.84 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 2.60 and a beta of 0.83. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the prior year, the company posted $2.93 EPS. The company’s revenue was down 2.3% compared to the same quarter last year. On average, research 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 given a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.58%. Chevron’s payout ratio is presently 78.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CVX shares. BNP Paribas lowered shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Hsbc Global Res lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Piper Sandler lowered their target price on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock 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 on the stock in a report on Monday, April 7th. Finally, Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $160.24.

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.