Stonnington Group LLC cut its stake in Chevron Co. (NYSE:CVX – Get Rating) by 6.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,251 shares of the oil and gas company’s stock after selling 796 shares during the period. Stonnington Group LLC’s holdings in Chevron were worth $2,108,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Rebalance LLC purchased a new position in shares of Chevron during the fourth quarter valued at approximately $26,000. Western Pacific Wealth Management LP purchased a new position in shares of Chevron during the fourth quarter valued at approximately $37,000. Red Tortoise LLC purchased a new position in shares of Chevron during the fourth quarter valued at approximately $37,000. Worth Asset Management LLC purchased a new position in shares of Chevron during the first quarter valued at approximately $36,000. Finally, JDM Financial Group LLC purchased a new position in shares of Chevron during the fourth quarter valued at approximately $42,000. 69.65% of the stock is currently owned by hedge funds and other institutional investors.
Chevron Trading Down 0.3 %
NYSE:CVX opened at $153.53 on Wednesday. Chevron Co. has a 12 month low of $132.54 and a 12 month high of $189.68. The company has a 50 day simple moving average of $158.26 and a two-hundred day simple moving average of $165.35. The company has a current ratio of 1.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.13. The company has a market cap of $290.88 billion, a PE ratio of 8.29, a price-to-earnings-growth ratio of 0.78 and a beta of 1.17.
Chevron Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date was Thursday, May 18th. Chevron’s payout ratio is 32.61%.
Analyst Ratings Changes
CVX has been the subject of several recent research reports. UBS Group initiated coverage on shares of Chevron in a report on Wednesday, April 19th. They set a “buy” rating and a $212.00 target price for the company. StockNews.com initiated coverage on shares of Chevron in a report on Thursday, May 18th. They set a “hold” rating for the company. Piper Sandler lowered their target price on shares of Chevron from $196.00 to $188.00 in a report on Tuesday, June 13th. Mizuho reduced their price target on shares of Chevron from $206.00 to $196.00 in a research report on Friday, May 19th. Finally, JPMorgan Chase & Co. raised shares of Chevron from an “underweight” rating to a “neutral” rating and raised their price target for the company from $161.00 to $170.00 in a research report on Wednesday, May 31st. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and an average target price of $191.68.
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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.
Further Reading
- Get a free research report on Chevron from StockNews.com
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