Iron Horse Wealth Management LLC Boosts Holdings in Chevron Co. (NYSE:CVX)

Iron Horse Wealth Management LLC lifted its stake in Chevron Co. (NYSE:CVXFree Report) by 10.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 875 shares of the oil and gas company’s stock after purchasing an additional 80 shares during the period. Iron Horse Wealth Management LLC’s holdings in Chevron were worth $131,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Picton Mahoney Asset Management purchased a new position in Chevron during the 3rd quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV lifted its position in Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 80 shares during the period. DHJJ Financial Advisors Ltd. purchased a new position in Chevron during the 3rd quarter valued at about $35,000. Valued Wealth Advisors LLC purchased a new position in Chevron during the 4th quarter valued at about $33,000. Finally, Worth Asset Management LLC purchased a new position in Chevron during the 1st quarter valued at about $36,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of NYSE CVX opened at $159.82 on Wednesday. The firm has a 50 day moving average of $152.56 and a 200 day moving average of $152.41. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $296.83 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth 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.

Chevron (NYSE:CVXGet Free Report) 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 the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. During the same period in the previous year, the business posted $4.09 earnings per share. The firm’s quarterly revenue was down 16.5% compared to the same quarter last year. On average, research analysts anticipate that Chevron Co. will post 13.13 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 annualized dividend and a yield of 4.08%. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is currently 57.39%.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent research reports. UBS Group lowered their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, December 14th. Royal Bank of Canada lifted their price target on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Piper Sandler lowered their price target on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Finally, Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research note on Monday, January 8th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $180.39.

Read Our Latest Analysis on Chevron

Chevron Profile

(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.

Recommended Stories

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVXFree Report).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.