ICW Investment Advisors LLC Grows Stock Holdings in Chevron Co. (NYSE:CVX)

ICW Investment Advisors LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 7.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 9,214 shares of the oil and gas company’s stock after purchasing an additional 637 shares during the period. ICW Investment Advisors LLC’s holdings in Chevron were worth $668,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Sailer Financial LLC purchased a new stake in shares of Chevron during the 4th quarter worth $25,000. Filbrandt Wealth Management LLC purchased a new stake in shares of Chevron during the 4th quarter worth $25,000. Corbenic Partners LLC lifted its position in shares of Chevron by 276.0% during the 1st quarter. Corbenic Partners LLC now owns 361 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 265 shares during the last quarter. Advocacy Wealth Management Services LLC lifted its position in shares of Chevron by 84.2% during the 1st quarter. Advocacy Wealth Management Services LLC now owns 396 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 181 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC purchased a new stake in shares of Chevron during the 4th quarter worth $33,000. 64.86% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently commented on the stock. Argus reiterated a “buy” rating and set a $88.00 price target (down from $150.00) on shares of Chevron in a research note on Thursday, March 26th. Goldman Sachs Group lowered shares of Chevron from a “conviction-buy” rating to a “buy” rating in a research note on Monday, May 4th. Credit Suisse Group lifted their price target on shares of Chevron from $81.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Royal Bank of Canada lifted their price target on shares of Chevron from $85.00 to $100.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 14th. Finally, Morgan Stanley cut their price target on shares of Chevron from $137.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, March 16th. Seven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $112.27.

CVX stock traded up $0.52 during trading on Monday, reaching $92.22. 2,748,928 shares of the company were exchanged, compared to its average volume of 9,683,845. The company has a market cap of $171.20 billion, a P/E ratio of 44.77 and a beta of 1.30. Chevron Co. has a 52-week low of $51.60 and a 52-week high of $127.00. The stock’s 50 day moving average price is $88.93 and its 200 day moving average price is $101.46. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.78 and a current ratio of 1.01.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $1.29. The company had revenue of $31.50 billion for the quarter, compared to the consensus estimate of $30.46 billion. Chevron had a net margin of 2.71% and a return on equity of 8.28%. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.47 earnings per share. As a group, equities research analysts forecast that Chevron Co. will post -0.03 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be given a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 5.60%. The ex-dividend date is Monday, May 18th. Chevron’s dividend payout ratio (DPR) is 82.30%.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

Further Reading: Straddles

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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