waypoint wealth counsel Raises Holdings in Chevron Corporation (NYSE:CVX)

waypoint wealth counsel lifted its holdings in shares of Chevron Corporation (NYSE:CVX) by 4.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,325 shares of the oil and gas company’s stock after purchasing an additional 98 shares during the period. waypoint wealth counsel’s holdings in Chevron were worth $389,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CVX. Sage Capital Advisors llc grew its stake in Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock worth $7,097,000 after acquiring an additional 919 shares during the period. CCG Wealth Management LLC grew its stake in Chevron by 2.3% in the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock worth $1,060,000 after acquiring an additional 145 shares during the period. Pines Wealth Management LLC grew its stake in Chevron by 3.3% in the 1st quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company’s stock worth $1,306,000 after acquiring an additional 253 shares during the period. Viking Fund Management LLC grew its stake in Chevron by 9.3% in the 1st quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company’s stock worth $19,573,000 after acquiring an additional 10,000 shares during the period. Finally, Allianz SE purchased a new stake in Chevron in the 4th quarter worth approximately $9,369,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

NYSE:CVX opened at $143.49 on Thursday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $250.59 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 2.52 and a beta of 0.83. The firm’s fifty day simple moving average is $139.95 and its 200 day simple moving average is $148.45. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the previous year, the business posted $2.93 EPS. The business’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.77%. Chevron’s dividend payout ratio is currently 78.17%.

Analysts Set New Price Targets

Several analysts have commented on CVX shares. TD Cowen lowered their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, May 5th. Wells Fargo & Company lowered their price objective on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. BNP Paribas cut shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Mizuho lowered their price objective on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Finally, HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and lowered their price objective for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $160.24.

Chevron 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.