Mccarter Private Wealth Services LLC Sells 92 Shares of Chevron Corporation $CVX

Mccarter Private Wealth Services LLC lowered its stake in shares of Chevron Corporation (NYSE:CVX) by 0.4% during the first quarter, Holdings Channel reports. The fund owned 21,400 shares of the oil and gas company’s stock after selling 92 shares during the period. Chevron makes up approximately 2.3% of Mccarter Private Wealth Services LLC’s holdings, making the stock its 12th biggest holding. Mccarter Private Wealth Services LLC’s holdings in Chevron were worth $3,580,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Sage Capital Advisors llc increased its stake in Chevron by 2.2% during the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock worth $7,097,000 after purchasing an additional 919 shares in the last quarter. CCG Wealth Management LLC grew its stake in shares of Chevron by 2.3% in the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock valued at $1,060,000 after buying an additional 145 shares in the last quarter. Ignite Planners LLC lifted its holdings in Chevron by 14.1% during the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock valued at $2,060,000 after purchasing an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. lifted its holdings in Chevron by 9.1% during the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock valued at $993,000 after purchasing an additional 495 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Chevron by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock worth $24,075,000 after buying an additional 675 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on CVX shares. Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. TD Cowen boosted their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. Raymond James Financial reiterated an “outperform” rating on shares of Chevron in a report on Friday, August 1st. Mizuho dropped their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Finally, Melius Research assumed coverage on Chevron in a research report on Wednesday. They set a “hold” rating and a $155.00 target price on the stock. Eleven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $163.95.

Chevron Stock Up 1.3%

Shares of NYSE CVX opened at $155.1660 on Friday. The business has a 50-day moving average of $150.97 and a 200-day moving average of $148.63. The firm has a market capitalization of $268.13 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 2.27 and a beta of 0.87. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the previous year, the company posted $2.55 earnings per share. The business’s revenue was down 12.4% on a year-over-year basis. Sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron’s dividend payout ratio is currently 88.03%.

About Chevron

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.