M. Kraus & Co Cuts Position in Chevron Co. (NYSE:CVX)

M. Kraus & Co decreased its holdings in Chevron Co. (NYSE:CVX) by 1.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,187 shares of the oil and gas company’s stock after selling 160 shares during the quarter. M. Kraus & Co’s holdings in Chevron were worth $1,704,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. IMG Wealth Management Inc. acquired a new stake in shares of Chevron in the 4th quarter worth $25,000. Life Planning Partners Inc acquired a new stake in shares of Chevron in the 4th quarter worth $25,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron in the 4th quarter worth $29,000. 10Elms LLP acquired a new stake in shares of Chevron in the 4th quarter worth $29,000. Finally, Fairway Wealth LLC lifted its position in 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 acquiring an additional 88 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of research reports. TD Cowen lowered their price target on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Piper Sandler lowered their price target on Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a research report on Tuesday, May 6th. Finally, BNP Paribas cut Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $160.24.

Chevron Price Performance

NYSE:CVX opened at $145.74 on Monday. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a 50 day moving average of $138.53 and a two-hundred day moving average of $149.02. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market cap of $254.52 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83.

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

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio is currently 78.17%.

About Chevron

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.