Chevron Co. (NYSE:CVX) Holdings Increased by Summit Financial Wealth Advisors LLC

Summit Financial Wealth Advisors LLC increased its holdings in Chevron Co. (NYSE:CVXFree Report) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,768 shares of the oil and gas company’s stock after purchasing an additional 240 shares during the quarter. Chevron accounts for 0.9% of Summit Financial Wealth Advisors LLC’s holdings, making the stock its 28th biggest position. Summit Financial Wealth Advisors LLC’s holdings in Chevron were worth $4,142,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Windsor Advisory Group LLC raised its holdings in shares of Chevron by 24.0% in the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock worth $627,000 after purchasing an additional 720 shares in the last quarter. Dechtman Wealth Management LLC bought a new stake in shares of Chevron in the 2nd quarter worth approximately $648,000. Renaissance Investment Group LLC raised its holdings in shares of Chevron by 12.7% in the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after purchasing an additional 697 shares in the last quarter. Altrius Capital Management Inc raised its holdings in shares of Chevron by 2.1% during the third quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after acquiring an additional 434 shares during the period. Finally, Tsfg LLC raised its holdings in shares of Chevron by 5.3% during the third quarter. Tsfg LLC now owns 3,473 shares of the oil and gas company’s stock valued at $586,000 after acquiring an additional 176 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CVX shares. TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $170.00 to $150.00 in a report on Tuesday, January 23rd. Piper Sandler cut their price target on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. Royal Bank of Canada boosted their price target on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a report on Tuesday, February 6th. Finally, Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price objective on the stock. in a research report on Tuesday, January 16th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $180.39.

Read Our Latest Analysis on Chevron

Chevron Stock Performance

CVX stock opened at $157.74 on Friday. 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 company has a market capitalization of $292.97 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 2.42 and a beta of 1.12. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.88. The firm has a 50 day moving average of $152.23 and a two-hundred day moving average of $152.67.

Chevron (NYSE:CVXGet Free Report) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping 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 business had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same period in the previous year, the company earned $4.09 earnings per share. Chevron’s revenue for the quarter was down 16.5% on a year-over-year basis. As a group, equities analysts anticipate that Chevron Co. will post 13.04 EPS for the current fiscal year.

Chevron Increases Dividend

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

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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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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