Capital Investment Advisors LLC Sells 3,250 Shares of Chevron Co. (NYSE:CVX)

Posted by on Jun 21st, 2023

Capital Investment Advisors LLC trimmed its position in shares of Chevron Co. (NYSE:CVX – Get Rating) by 1.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 255,977 shares of the oil and gas company’s stock after selling 3,250 shares during the quarter. Chevron accounts for 1.2% of Capital Investment Advisors LLC’s investment portfolio, making the stock its 16th largest holding. Capital Investment Advisors LLC’s holdings in Chevron were worth $41,765,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Rebalance LLC bought a new position in Chevron during the 4th quarter valued at $26,000. Worth Asset Management LLC purchased a new position in shares of Chevron during the first quarter worth about $36,000. Red Tortoise LLC purchased a new position in shares of Chevron during the fourth quarter worth about $37,000. Western Pacific Wealth Management LP bought a new stake in Chevron in the 4th quarter worth approximately $37,000. Finally, JDM Financial Group LLC bought a new stake in Chevron in the fourth quarter valued at approximately $42,000. 69.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on CVX shares. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $195.00 to $200.00 in a research report on Thursday, April 13th. BNP Paribas raised Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 price target on the stock in a report on Tuesday, April 4th. Raymond James lowered their price target on Chevron from $212.00 to $208.00 and set an “outperform” rating on the stock in a report on Friday, April 14th. Piper Sandler lowered their target price on Chevron from $196.00 to $188.00 in a report on Tuesday, June 13th. Finally, Mizuho cut their target price on Chevron from $206.00 to $196.00 in a research report on Friday, May 19th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $191.68.

Chevron Stock Performance

Shares of CVX stock opened at $153.71 on Wednesday. The stock has a market cap of $291.23 billion, a PE ratio of 8.30, a price-to-earnings-growth ratio of 0.80 and a beta of 1.17. Chevron Co. has a 52-week low of $132.54 and a 52-week high of $189.68. The company has a quick ratio of 1.16, a current ratio of 1.43 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $160.05 and a 200-day simple moving average of $166.02.

Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings results on Friday, April 28th. The oil and gas company reported $3.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.14. The company had revenue of $50.79 billion during the quarter, compared to analysts’ expectations of $49.49 billion. Chevron had a return on equity of 23.15% and a net margin of 14.74%. Chevron’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.36 EPS. On average, equities analysts expect that Chevron Co. will post 13.82 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were given a $1.51 dividend. The ex-dividend date of this dividend was Thursday, May 18th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.93%. Chevron’s dividend payout ratio (DPR) is presently 32.61%.

Chevron Company Profile

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Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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