InTrack Investment Management Inc Has $431,000 Stock Position in Chevron Co. (NYSE:CVX)

InTrack Investment Management Inc trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 66.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,575 shares of the oil and gas company’s stock after selling 5,054 shares during the period. InTrack Investment Management Inc’s holdings in Chevron were worth $431,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of CVX. Life Planning Partners Inc bought a new position in Chevron during the fourth quarter worth $25,000. IMG Wealth Management Inc. acquired a new stake in shares of Chevron in the 4th quarter valued at about $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron in the 4th quarter valued at about $29,000. 10Elms LLP bought a new position in shares of Chevron in the 4th quarter worth $29,000. Finally, Fairway Wealth LLC lifted its stake in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 88 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. BNP Paribas cut shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. TD Cowen decreased their price target on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. Redburn Atlantic restated a “sell” rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and reduced their target price for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, Piper Sandler cut their price target on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $160.24.

Chevron Stock Up 1.9%

Shares of NYSE CVX opened at $143.40 on Wednesday. The business’s fifty day moving average price is $138.21 and its 200-day moving average price is $149.46. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The stock has a market capitalization of $250.43 billion, a PE ratio of 14.75, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

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

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.77%. Chevron’s payout ratio is 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.