Forza Wealth Management LLC Acquires 110 Shares of Chevron Co. (NYSE:CVX)

Forza Wealth Management LLC grew its stake in shares of Chevron Co. (NYSE:CVX) by 1.0% in the first quarter, Holdings Channel reports. The firm owned 10,899 shares of the oil and gas company’s stock after acquiring an additional 110 shares during the period. Forza Wealth Management LLC’s holdings in Chevron were worth $1,719,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Windsor Advisory Group LLC lifted 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 buying an additional 720 shares during the period. Renaissance Investment Group LLC lifted its stake in Chevron by 12.7% in the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after acquiring an additional 697 shares during the period. Altrius Capital Management Inc grew its holdings in Chevron by 2.1% during the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock worth $3,597,000 after acquiring an additional 434 shares in the last quarter. Camelot Portfolios LLC purchased a new position in Chevron during the 4th quarter valued at about $254,000. Finally, Kapstone Financial Advisors LLC raised its holdings in shares of Chevron by 5.3% in the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock valued at $626,000 after purchasing an additional 211 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Performance

NYSE:CVX traded up $0.45 during trading hours on Monday, hitting $166.34. 6,365,830 shares of the company were exchanged, compared to its average volume of 8,454,267. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The stock has a market capitalization of $308.94 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 2.44 and a beta of 1.12. The company’s 50 day moving average price is $156.81 and its 200-day moving average price is $151.70.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same period in the previous year, the firm posted $3.55 earnings per share. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, research analysts forecast that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 3.92%. Chevron’s payout ratio is presently 59.98%.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent research reports. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research note on Monday, January 8th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Truist Financial cut their price target on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a report on Friday, April 5th. Raymond James upped their price objective on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $185.25.

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.