JPL Wealth Management LLC Sells 5,504 Shares of Chevron Corporation (NYSE:CVX)

JPL Wealth Management LLC reduced its holdings in Chevron Corporation (NYSE:CVX) by 13.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,190 shares of the oil and gas company’s stock after selling 5,504 shares during the period. Chevron comprises 2.3% of JPL Wealth Management LLC’s holdings, making the stock its 4th largest position. JPL Wealth Management LLC’s holdings in Chevron were worth $5,709,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CVX. Life Planning Partners Inc purchased a new stake in Chevron in the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Chevron in the fourth quarter valued at $29,000. 10Elms LLP acquired a new stake in shares of Chevron in the fourth quarter valued at $29,000. Navigoe LLC acquired a new stake in shares of Chevron in the fourth quarter valued at $33,000. Finally, IFS Advisors LLC grew its stake in shares of Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 116 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on CVX shares. Redburn Atlantic reissued a “sell” rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Piper Sandler reissued an “overweight” rating on shares of Chevron in a report on Tuesday, July 15th. TD Cowen reduced their target price on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. DZ Bank downgraded Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a report on Tuesday, May 6th. Finally, Scotiabank reissued a “sector perform” rating and issued a $160.00 target price (up from $143.00) on shares of Chevron in a report on Friday, July 11th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $161.31.

Chevron Trading Up 0.3%

NYSE:CVX opened at $150.20 on Wednesday. The business’s 50-day moving average is $144.04 and its two-hundred day moving average is $148.68. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The firm has a market capitalization of $262.31 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 2.47 and a beta of 0.83.

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

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.55%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

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.