Johnson & White Wealth Management LLC Buys 427 Shares of Chevron Co. (NYSE:CVX)

Johnson & White Wealth Management LLC lifted its stake in Chevron Co. (NYSE:CVX) by 12.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,967 shares of the oil and gas company’s stock after buying an additional 427 shares during the quarter. Johnson & White Wealth Management LLC’s holdings in Chevron were worth $664,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CVX. Norges Bank bought a new position in shares of Chevron in the fourth quarter worth about $3,017,750,000. Raymond James Financial Inc. bought a new position in shares of Chevron in the fourth quarter worth about $1,036,302,000. GAMMA Investing LLC raised its stake in shares of Chevron by 21,191.5% in the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock worth $904,746,000 after buying an additional 5,382,847 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Chevron by 17.3% in the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after buying an additional 2,432,756 shares during the period. Finally, Amundi raised its stake in shares of Chevron by 27.7% in the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock worth $1,323,549,000 after buying an additional 1,910,262 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CVX. DZ Bank downgraded Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a research note on Tuesday, May 6th. Redburn Atlantic reissued a “sell” rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Piper Sandler decreased their target price on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. TD Cowen decreased their target price on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Finally, UBS Group decreased their target price on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and an average target price of $160.24.

Chevron Stock Performance

NYSE CVX opened at $137.46 on Thursday. The stock has a market capitalization of $240.06 billion, a PE ratio of 14.14, a P/E/G ratio of 1.46 and a beta of 0.83. The business has a 50 day simple moving average of $140.16 and a two-hundred day simple moving average of $150.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX) last released its quarterly 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. The business had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.93 EPS. On average, research analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date is Monday, May 19th. Chevron’s dividend payout ratio (DPR) is 78.17%.

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.