Icapital Wealth LLC cut its stake in Chevron Co. (NYSE:CVX – Get Rating) by 44.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,901 shares of the oil and gas company’s stock after selling 3,885 shares during the period. Icapital Wealth LLC’s holdings in Chevron were worth $819,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. Avondale Wealth Management acquired a new stake in Chevron during the 4th quarter valued at approximately $26,000. Rational Advisors LLC lifted its stake in Chevron by 116.3% during the 4th quarter. Rational Advisors LLC now owns 225 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 121 shares during the period. Curi Wealth Management LLC acquired a new stake in Chevron during the 4th quarter valued at approximately $30,000. Byrne Asset Management LLC acquired a new stake in Chevron during the 4th quarter valued at approximately $36,000. Finally, West Bancorporation Inc. acquired a new stake in Chevron during the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 65.89% of the company’s stock.
Several equities analysts recently issued reports on the stock. Credit Suisse Group boosted their target price on shares of Chevron from $190.00 to $202.00 and gave the company an “outperform” rating in a research note on Thursday, June 9th. Raymond James boosted their target price on shares of Chevron from $173.00 to $191.00 and gave the company an “outperform” rating in a research note on Monday, April 18th. Societe Generale cut shares of Chevron from a “buy” rating to a “hold” rating and set a $175.00 target price for the company. in a research note on Friday, May 20th. JPMorgan Chase & Co. cut shares of Chevron from a “neutral” rating to an “underweight” rating and set a $169.00 target price for the company. in a research note on Friday, March 11th. Finally, The Goldman Sachs Group decreased their target price on shares of Chevron from $181.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.57.
NYSE CVX opened at $147.87 on Thursday. The firm’s 50-day moving average is $167.41 and its two-hundred day moving average is $149.45. Chevron Co. has a 12 month low of $92.86 and a 12 month high of $182.40. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22. The stock has a market capitalization of $290.54 billion, a P/E ratio of 13.90, a PEG ratio of 0.67 and a beta of 1.09.
Chevron (NYSE:CVX – Get Rating) last posted its earnings results on Friday, April 29th. The oil and gas company reported $3.36 EPS for the quarter, missing analysts’ consensus estimates of $3.44 by ($0.08). Chevron had a net margin of 11.10% and a return on equity of 14.66%. The company had revenue of $54.37 billion during the quarter, compared to analyst estimates of $54.96 billion. During the same period in the previous year, the company earned $0.90 EPS. The company’s quarterly revenue was up 69.8% compared to the same quarter last year. As a group, analysts anticipate that Chevron Co. will post 17.5 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Thursday, May 19th were given a $1.42 dividend. The ex-dividend date was Wednesday, May 18th. This represents a $5.68 dividend on an annualized basis and a yield of 3.84%. Chevron’s payout ratio is currently 53.38%.
Chevron Profile (Get Rating)
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 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.
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