IFG Advisory LLC Buys 346 Shares of Chevron Co. (NYSE:CVX)

IFG Advisory LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 2.9% during the 4th quarter, Holdings Channel reports. The fund owned 12,115 shares of the oil and gas company’s stock after acquiring an additional 346 shares during the period. IFG Advisory LLC’s holdings in Chevron were worth $1,807,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CVX. Picton Mahoney Asset Management acquired a new position in Chevron during the third quarter worth $26,000. Valley Forge Investment Consultants Inc. ADV raised its holdings in Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after buying an additional 80 shares during the last quarter. Valued Wealth Advisors LLC acquired a new position in Chevron during the fourth quarter worth $33,000. DHJJ Financial Advisors Ltd. acquired a new position in Chevron during the third quarter worth $35,000. Finally, Worth Asset Management LLC acquired a new position in Chevron during the first quarter worth $36,000. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on CVX shares. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a report on Tuesday, February 6th. TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a report on Monday, January 8th. UBS Group lowered their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, December 14th. Finally, Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 target price for the company. in a report on Tuesday, January 16th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $180.39.

Chevron Price Performance

Shares of NYSE:CVX opened at $156.36 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $290.40 billion, a PE ratio of 13.76, a P/E/G ratio of 2.38 and a beta of 1.12. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.88. The company has a 50-day moving average price of $151.34 and a two-hundred day moving average price of $152.65.

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

Chevron Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.17%. Chevron’s payout ratio is presently 57.39%.

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.