Visionary Horizons LLC Reduces Stock Position in Chevron Co. (NYSE:CVX)

Visionary Horizons LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 17.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,168 shares of the oil and gas company’s stock after selling 650 shares during the quarter. Visionary Horizons LLC’s holdings in Chevron were worth $530,000 at the end of the most recent quarter.

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

Chevron Stock Up 1.9%

CVX opened at $143.40 on Wednesday. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a 50 day moving average price of $138.21 and a 200 day moving average price of $149.46. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a market cap of $250.43 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83.

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

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.77%. Chevron’s dividend payout ratio is currently 78.17%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CVX. BNP Paribas cut Chevron to a “cautious” rating in a report on Tuesday, April 15th. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $160.00 to $143.00 in a research note on Friday, April 11th. TD Cowen cut their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, May 5th. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and decreased their price target for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, Barclays downgraded shares of Chevron from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $160.24.

Chevron 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.