Chevron Co. (NYSE:CVX) Shares Sold by Copia Wealth Management

Copia Wealth Management lessened its stake in Chevron Co. (NYSE:CVX) by 44.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 538 shares of the oil and gas company’s stock after selling 426 shares during the period. Copia Wealth Management’s holdings in Chevron were worth $90,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. IMG Wealth Management Inc. purchased a new position in shares of Chevron during the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron during the fourth quarter valued at $29,000. 10Elms LLP acquired a new stake in shares of Chevron in the fourth quarter valued at about $29,000. Fairway Wealth LLC increased its stake in shares of Chevron by 75.9% during the fourth 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. Finally, IFS Advisors LLC raised its position in shares of Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 116 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $160.00 to $143.00 in a report on Friday, April 11th. UBS Group dropped their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Barclays downgraded shares of Chevron from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Wells Fargo & Company decreased their target price on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Finally, HSBC lowered Chevron from a “buy” rating to a “hold” rating and dropped their price target for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Chevron has a consensus rating of “Hold” and an average price target of $160.24.

Chevron Stock Up 0.1%

CVX stock opened at $146.07 on Tuesday. The company’s 50 day moving average price is $138.72 and its 200 day moving average price is $148.91. The firm has a market capitalization of $255.09 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

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

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.68%. Chevron’s dividend payout ratio is presently 78.17%.

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.