Worth Financial Advisory Group LLC Has $429,000 Stock Holdings in Chevron Corporation (NYSE:CVX)

by · The Cerbat Gem

Worth Financial Advisory Group LLC lessened its holdings in Chevron Corporation (NYSE:CVX – Free Report) by 5.8% during the first quarter, HoldingsChannel reports. The firm owned 2,565 shares of the oil and gas company’s stock after selling 159 shares during the quarter. Worth Financial Advisory Group LLC’s holdings in Chevron were worth $429,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Sage Capital Advisors llc lifted its stake in shares of 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 valued at $7,097,000 after acquiring an additional 919 shares during the last quarter. Pines Wealth Management LLC lifted its stake in shares of 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 valued at $1,306,000 after acquiring an additional 253 shares during the last quarter. Viking Fund Management LLC lifted its stake in shares of 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 valued at $19,573,000 after acquiring an additional 10,000 shares during the last quarter. Allianz SE bought a new position in shares of Chevron in the 4th quarter valued at $9,369,000. Finally, Nicholas Company Inc. lifted its stake in shares of Chevron by 4.3% in the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock valued at $11,591,000 after acquiring an additional 3,280 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Shares of Chevron stock opened at $149.36 on Friday. 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 business has a 50-day moving average price of $139.37 and a two-hundred day moving average price of $148.72. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a market cap of $260.84 billion, a P/E ratio of 17.07, a PEG ratio of 2.60 and a beta of 0.83.

Chevron (NYSE:CVX – Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same period last year, the business posted $2.93 EPS. The business’s revenue was down 2.3% compared to the same quarter last year. As a group, analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued 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 currently 78.17%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. TD Cowen dropped their price target on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, May 5th. Mizuho dropped their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Wells Fargo & Company dropped their price target on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. UBS Group lowered their target price on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Finally, Scotiabank lowered 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 research report on Friday, April 11th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Hold” and an average target price of $160.24.

Read Our Latest Analysis on Chevron

About Chevron

(Free Report)

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.

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