St. Johns Investment Management Company LLC Sells 399 Shares of Chevron Corporation (NYSE:CVX)

St. Johns Investment Management Company LLC lessened its holdings in shares of Chevron Corporation (NYSE:CVX) by 4.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,669 shares of the oil and gas company’s stock after selling 399 shares during the quarter. St. Johns Investment Management Company LLC’s holdings in Chevron were worth $1,283,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. bought a new stake in Chevron during the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron in the 4th quarter worth approximately $29,000. 10Elms LLP bought a new stake in Chevron in the 4th quarter worth approximately $29,000. Fairway Wealth LLC increased its stake in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 88 shares during the last quarter. Finally, IFS Advisors LLC increased its stake in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 116 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX opened at $146.92 on Tuesday. The business has a fifty day moving average of $139.60 and a 200 day moving average of $148.52. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The stock has a market cap of $256.58 billion, a P/E ratio of 16.79, a PEG ratio of 2.63 and a beta of 0.83.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter in the previous year, the business earned $2.93 EPS. Chevron’s revenue was down 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date was Monday, May 19th. Chevron’s payout ratio is currently 78.17%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CVX shares. HSBC downgraded Chevron from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. UBS Group reduced their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Redburn Atlantic reaffirmed a “sell” rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Finally, TD Cowen reduced their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $160.24.

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.