Chevron Co. (NYSE:CVX) Position Trimmed by Fourpath Capital Management LLC

Fourpath Capital Management LLC trimmed its stake in Chevron Co. (NYSE:CVX) by 0.5% in the first quarter, Holdings Channel.com reports. The firm owned 52,522 shares of the oil and gas company’s stock after selling 254 shares during the quarter. Chevron comprises 1.5% of Fourpath Capital Management LLC’s portfolio, making the stock its 17th largest holding. Fourpath Capital Management LLC’s holdings in Chevron were worth $8,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVX. Capital & Planning LLC increased its stake in shares of Chevron by 15.2% during the 4th quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company’s stock worth $243,000 after purchasing an additional 222 shares during the last quarter. Eagle Capital Management LLC raised its holdings in Chevron by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock valued at $5,011,000 after buying an additional 242 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Chevron in the fourth quarter worth about $8,947,000. WCM Investment Management LLC boosted its stake in shares of Chevron by 146.5% during the 4th quarter. WCM Investment Management LLC now owns 27,133 shares of the oil and gas company’s stock worth $3,882,000 after acquiring an additional 16,124 shares in the last quarter. Finally, Stiles Financial Services Inc raised its stake in shares of Chevron by 3.6% in the 4th quarter. Stiles Financial Services Inc now owns 4,501 shares of the oil and gas company’s stock valued at $652,000 after acquiring an additional 155 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent analyst reports. TD Cowen dropped their price target on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Mizuho dropped their target price on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company decreased their price target on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a report on Monday, May 5th. HSBC lowered Chevron from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, Hsbc Global Res downgraded Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $160.24.

Chevron Price Performance

CVX opened at $140.76 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market capitalization of $245.82 billion, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company’s 50 day simple moving average is $138.46 and its 200-day simple moving average is $149.50. Chevron Co. has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.93 earnings per share. Sell-side analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.86%. Chevron’s payout ratio is presently 78.17%.

Chevron Company Profile

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.