Capstone Wealth Management Group LLC Cuts Position in Chevron Corporation (NYSE:CVX)

Capstone Wealth Management Group LLC lessened its holdings in Chevron Corporation (NYSE:CVX) by 23.6% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,845 shares of the oil and gas company’s stock after selling 1,494 shares during the period. Capstone Wealth Management Group LLC’s holdings in Chevron were worth $811,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CVX. Berkeley Capital Partners LLC boosted its holdings in shares of Chevron by 0.4% in the 4th quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock worth $2,572,000 after buying an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in Chevron by 6.1% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company’s stock valued at $171,000 after purchasing an additional 68 shares during the last quarter. CoreCap Advisors LLC lifted its stake in Chevron by 0.3% in the fourth quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company’s stock valued at $4,091,000 after purchasing an additional 71 shares during the last quarter. Fairscale Capital LLC lifted its stake in Chevron by 11.5% in the fourth quarter. Fairscale Capital LLC now owns 706 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 73 shares during the last quarter. Finally, Austin Wealth Management LLC lifted its position in shares of Chevron by 3.2% during the 4th quarter. Austin Wealth Management LLC now owns 2,364 shares of the oil and gas company’s stock valued at $342,000 after buying an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $147.91 on Thursday. The company’s 50-day moving average is $140.78 and its 200 day moving average is $148.08. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. 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 market capitalization of $258.31 billion, a price-to-earnings ratio of 16.90, a price-to-earnings-growth ratio of 2.48 and a beta of 0.83.

Chevron (NYSE:CVX) last announced 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. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.93 EPS. Sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.62%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio is presently 78.17%.

Wall Street Analyst Weigh In

Several research firms have commented on CVX. BNP Paribas downgraded shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and lowered their price target for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Redburn Atlantic reiterated a “sell” rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Piper Sandler raised their price objective on shares of Chevron from $162.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, TD Cowen decreased their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, May 5th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $160.41.

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.