Global Retirement Partners LLC Acquires 1,153 Shares of Chevron Co. (NYSE:CVX)

Global Retirement Partners LLC raised its holdings in Chevron Co. (NYSE:CVX) by 2.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,516 shares of the oil and gas company’s stock after buying an additional 1,153 shares during the period. Global Retirement Partners LLC’s holdings in Chevron were worth $6,540,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Cantor Fitzgerald Investment Advisor L.P lifted its stake in shares of Chevron by 85.1% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock valued at $25,908,000 after purchasing an additional 73,141 shares during the period. Axiom Financial Strategies LLC lifted its stake in Chevron by 25.2% in the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock valued at $1,155,000 after purchasing an additional 1,476 shares during the last quarter. GQG Partners LLC grew its stake in shares of Chevron by 4.7% during the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock valued at $6,598,000 after buying an additional 1,813 shares during the last quarter. Lumature Wealth Partners LLC grew its stake in shares of Chevron by 43.5% in the first quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after purchasing an additional 1,770 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Chevron by 13.8% in the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after buying an additional 250,840 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several analyst reports. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research report on Monday, January 8th. Mizuho boosted their price target on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Piper Sandler decreased their target price on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, March 14th. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target on the stock. in a report on Tuesday, January 16th. Finally, TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.39.

Chevron Price Performance

Chevron stock traded up $1.39 during mid-day trading on Friday, hitting $157.74. 8,331,627 shares of the company were exchanged, compared to its average volume of 8,810,399. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $172.88. The company has a market capitalization of $292.97 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 2.40 and a beta of 1.12. 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 business has a fifty day moving average of $151.60 and a 200 day moving average of $152.67.

Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The business had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. Chevron’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.09 EPS. As a group, sell-side analysts expect that Chevron Co. will post 13.04 earnings per share for the current year.

Chevron Increases Dividend

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

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.