Yarger Wealth Strategies LLC Acquires 325 Shares of Chevron Co. (NYSE:CVX)

Yarger Wealth Strategies LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 22.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,782 shares of the oil and gas company’s stock after purchasing an additional 325 shares during the period. Yarger Wealth Strategies LLC’s holdings in Chevron were worth $266,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Cantor Fitzgerald Investment Advisor L.P increased its position in Chevron by 85.1% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock worth $25,908,000 after buying an additional 73,141 shares during the last quarter. Axiom Financial Strategies LLC increased its holdings in Chevron by 25.2% in the 1st quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after acquiring an additional 1,476 shares during the last quarter. GQG Partners LLC increased its holdings in Chevron by 4.7% in the 1st quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after acquiring an additional 1,813 shares during the last quarter. Lumature Wealth Partners LLC raised its stake in Chevron by 43.5% in the 1st quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock valued at $950,000 after acquiring an additional 1,770 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Chevron by 13.8% during the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock valued at $336,830,000 after purchasing an additional 250,840 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CVX. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research report on Monday, January 8th. UBS Group cut their price target on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, December 14th. Mizuho raised their price objective on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Finally, Piper Sandler cut their price target on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $180.39.

Chevron Trading Up 0.9 %

Chevron stock traded up $1.39 during mid-day trading on Thursday, hitting $157.74. The company’s stock had a trading volume of 8,232,104 shares, compared to its average volume of 8,778,653. The business has a 50 day moving average price of $151.60 and a 200-day moving average price of $152.67. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.88. The stock has a market cap of $292.97 billion, a price-to-earnings ratio of 13.90, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. During the same quarter in the prior year, the firm posted $4.09 earnings per share. The business’s quarterly revenue was down 16.5% compared to the same quarter last year. As a group, analysts forecast that Chevron Co. will post 13.04 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a dividend of $1.63 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.13%. Chevron’s dividend payout ratio is presently 57.39%.

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.