Rockbridge Capital Management LLC Invests $390,000 in Chevron Co. (NYSE:CVX)

Rockbridge Capital Management LLC purchased a new position in Chevron Co. (NYSE:CVX) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,695 shares of the oil and gas company’s stock, valued at approximately $390,000. Chevron accounts for approximately 0.2% of Rockbridge Capital Management LLC’s holdings, making the stock its 20th biggest position.

A number of other institutional investors also recently bought and sold shares of the business. Life Planning Partners Inc purchased a new position in shares of Chevron during the 4th quarter valued at approximately $25,000. IMG Wealth Management Inc. acquired a new stake in Chevron during the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron in the fourth quarter valued at $29,000. Fairway Wealth LLC raised its position in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 88 shares during the period. Finally, Navigoe LLC acquired a new position in shares of Chevron in the fourth quarter worth about $33,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Down 0.8%

CVX opened at $141.22 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company’s 50 day simple moving average is $147.20 and its two-hundred day simple moving average is $151.87. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a market capitalization of $246.63 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. The firm 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 business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.93 earnings per share. Analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business 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. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.84%. Chevron’s dividend payout ratio is presently 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of analyst reports. Piper Sandler dropped their target price on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday. UBS Group dropped their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. BNP Paribas cut Chevron to a “cautious” rating in a research report on Tuesday, April 15th. DZ Bank downgraded Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a research note on Tuesday, May 6th. Finally, Barclays cut shares of Chevron from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Chevron presently has an average rating of “Hold” and a consensus target price of $160.24.

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.