Lion Street Advisors LLC Decreases Stock Holdings in Chevron Corporation (NYSE:CVX)

Lion Street Advisors LLC reduced its holdings in Chevron Corporation (NYSE:CVX) by 1.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 9,189 shares of the oil and gas company’s stock after selling 127 shares during the period. Lion Street Advisors LLC’s holdings in Chevron were worth $1,537,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cornerstone Wealth Management LLC raised its position in shares of Chevron by 1.3% during the 1st quarter. Cornerstone Wealth Management LLC now owns 23,195 shares of the oil and gas company’s stock valued at $3,880,000 after buying an additional 303 shares in the last quarter. Shepherd Financial Partners LLC grew its position in Chevron by 8.1% in the first quarter. Shepherd Financial Partners LLC now owns 4,764 shares of the oil and gas company’s stock worth $797,000 after acquiring an additional 356 shares in the last quarter. Clarius Group LLC increased its stake in Chevron by 20.9% during the first quarter. Clarius Group LLC now owns 15,649 shares of the oil and gas company’s stock worth $2,618,000 after acquiring an additional 2,710 shares during the last quarter. Hemenway Trust Co LLC raised its position in Chevron by 2.4% during the first quarter. Hemenway Trust Co LLC now owns 154,289 shares of the oil and gas company’s stock valued at $25,811,000 after purchasing an additional 3,556 shares during the period. Finally, GSB Wealth Management LLC lifted its stake in shares of Chevron by 0.7% in the 1st quarter. GSB Wealth Management LLC now owns 19,634 shares of the oil and gas company’s stock valued at $3,285,000 after purchasing an additional 128 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CVX. Piper Sandler dropped their target price on Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Hsbc Global Res downgraded Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and cut their price objective for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Barclays downgraded shares of Chevron from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Finally, BNP Paribas cut shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. 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 company. According to data from MarketBeat, Chevron currently has an average rating of “Hold” and an average target price of $160.24.

Chevron Price Performance

Shares of CVX opened at $148.86 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The company has a 50 day moving average price of $138.78 and a 200-day moving average price of $148.91. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a market capitalization of $259.97 billion, a PE ratio of 17.01, a PEG ratio of 2.56 and a beta of 0.83.

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 analysts’ consensus estimates 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 10.73% and a net margin of 7.76%. Chevron’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.93 earnings per share. Equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date was Monday, May 19th. Chevron’s 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.