Chevron Corporation (NYSE:CVX) Shares Sold by ORG Partners LLC

ORG Partners LLC reduced its stake in shares of Chevron Corporation (NYSE:CVX) by 17.0% during the 1st quarter, HoldingsChannel reports. The firm owned 8,902 shares of the oil and gas company’s stock after selling 1,828 shares during the quarter. ORG Partners LLC’s holdings in Chevron were worth $1,380,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Capital & Planning LLC increased its holdings in shares of Chevron by 15.2% during the 4th quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company’s stock worth $243,000 after buying an additional 222 shares during the last quarter. Eagle Capital Management LLC grew its position in Chevron by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock worth $5,011,000 after acquiring an additional 242 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in Chevron during the fourth quarter worth $8,947,000. Bank Pictet & Cie Europe AG increased its stake in Chevron by 7.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock worth $5,212,000 after acquiring an additional 2,641 shares during the last quarter. Finally, Strategic Financial Concepts LLC raised its position in Chevron by 212.4% in the fourth quarter. Strategic Financial Concepts LLC now owns 5,352 shares of the oil and gas company’s stock valued at $775,000 after purchasing an additional 3,639 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Down 0.4%

Shares of NYSE CVX opened at $148.18 on Friday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The stock has a market cap of $258.78 billion, a P/E ratio of 16.93, a PEG ratio of 2.60 and a beta of 0.83. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The business’s fifty day simple moving average is $139.09 and its 200-day simple moving average is $148.81.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter last year, the company earned $2.93 EPS. Chevron’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced 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 4.62%. Chevron’s dividend payout ratio (DPR) is 78.17%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CVX. Piper Sandler lowered their price target on Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Mizuho lowered their target price on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Hsbc Global Res lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Finally, HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and dropped their target price for the company from $176.00 to $158.00 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $160.24.

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.