Y Intercept Hong Kong Ltd Has $2.18 Million Stock Position in Chevron Corporation (NYSE:CVX)

Y Intercept Hong Kong Ltd lowered its stake in Chevron Corporation (NYSE:CVX) by 73.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,031 shares of the oil and gas company’s stock after selling 36,142 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Chevron were worth $2,180,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. CoreCap Advisors LLC boosted its stake in shares of 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 buying an additional 71 shares during the period. Clayton Financial Group LLC boosted its stake in shares of Chevron by 4.6% in the first quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company’s stock valued at $285,000 after buying an additional 75 shares during the period. Requisite Capital Management LLC boosted its stake in shares of Chevron by 1.2% in the first quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company’s stock valued at $1,064,000 after buying an additional 77 shares during the period. Silverlake Wealth Management LLC boosted its stake in shares of Chevron by 0.7% in the first quarter. Silverlake Wealth Management LLC now owns 10,929 shares of the oil and gas company’s stock valued at $1,828,000 after buying an additional 78 shares during the period. Finally, Annandale Capital LLC boosted its stake in shares of Chevron by 5.7% in the fourth quarter. Annandale Capital LLC now owns 1,471 shares of the oil and gas company’s stock valued at $213,000 after buying an additional 79 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CVX shares. Wells Fargo & Company reissued an “overweight” rating and issued a $165.00 price objective (up previously from $164.00) on shares of Chevron in a research note on Thursday, June 26th. Redburn Atlantic reissued 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. TD Cowen reduced their price objective on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Barclays reissued an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Finally, HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and cut their price target for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Three investment 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’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $161.31.

Chevron Trading Up 0.3%

Shares of CVX stock opened at $150.20 on Wednesday. The firm has a 50-day moving average price of $144.04 and a 200 day moving average price of $148.68. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a market capitalization of $262.31 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 2.47 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.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.93 EPS. Research analysts forecast that Chevron Corporation will post 10.79 earnings per share 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 issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is 78.17%.

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.