Moss Adams Wealth Advisors LLC Has $1.10 Million Stake in Chevron Co. (NYSE:CVX)

Moss Adams Wealth Advisors LLC grew its holdings in Chevron Co. (NYSE:CVX) by 9.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 6,586 shares of the oil and gas company’s stock after acquiring an additional 571 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Chevron were worth $1,102,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in Chevron by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock worth $5,247,142,000 after purchasing an additional 392,916 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Chevron by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after purchasing an additional 746,806 shares during the last quarter. Norges Bank acquired a new stake in Chevron during the 4th quarter worth approximately $3,017,750,000. Northern Trust Corp increased its stake in Chevron by 7.3% during the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock worth $2,965,135,000 after acquiring an additional 1,394,091 shares during the period. Finally, Fisher Asset Management LLC increased its stake in Chevron by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock worth $2,881,280,000 after acquiring an additional 410,460 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on CVX. Redburn Atlantic restated a “sell” rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. DZ Bank lowered Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective on the stock. in a research note on Tuesday, May 6th. Mizuho lowered their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Finally, BNP Paribas lowered Chevron to a “cautious” rating in a research note on Tuesday, April 15th. 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $160.24.

Chevron Stock Performance

Chevron stock opened at $140.21 on Monday. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average price is $138.98 and its two-hundred day moving average price is $149.65. The stock has a market cap of $244.86 billion, a PE ratio of 14.42, a P/E/G ratio of 1.46 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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter in the previous year, the business posted $2.93 earnings per share. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.88%. The ex-dividend date is Monday, May 19th. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

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.