Core Alternative Capital Sells 12,304 Shares of Chevron Co. (NYSE:CVX)

Posted by on Jul 1st, 2023

Core Alternative Capital reduced its stake in shares of Chevron Co. (NYSE:CVX – Free Report) by 10.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 110,546 shares of the oil and gas company’s stock after selling 12,304 shares during the period. Chevron makes up approximately 2.4% of Core Alternative Capital’s holdings, making the stock its 8th biggest holding. Core Alternative Capital’s holdings in Chevron were worth $18,037,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. FinTrust Capital Advisors LLC grew its stake in shares of Chevron by 26.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 12,133 shares of the oil and gas company’s stock worth $2,137,000 after acquiring an additional 2,500 shares in the last quarter. Hedeker Wealth LLC grew its stake in shares of Chevron by 4.6% during the 1st quarter. Hedeker Wealth LLC now owns 16,133 shares of the oil and gas company’s stock worth $2,632,000 after acquiring an additional 713 shares in the last quarter. R.H. Dinel Investment Counsel Inc. grew its stake in shares of Chevron by 35.8% during the 1st quarter. R.H. Dinel Investment Counsel Inc. now owns 34,210 shares of the oil and gas company’s stock worth $5,582,000 after acquiring an additional 9,019 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC grew its stake in shares of Chevron by 19.5% during the 1st quarter. Baron Silver Stevens Financial Advisors LLC now owns 1,889 shares of the oil and gas company’s stock worth $308,000 after acquiring an additional 308 shares in the last quarter. Finally, Alhambra Investment Partners LLC bought a new position in shares of Chevron during the 1st quarter worth approximately $817,000. 69.65% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Up 0.7 %

Shares of Chevron stock opened at $157.35 on Friday. The firm has a 50-day moving average of $157.44 and a 200-day moving average of $165.12. The stock has a market cap of $298.12 billion, a PE ratio of 8.50, a PEG ratio of 0.79 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 debt-to-equity ratio of 0.13, a quick ratio of 1.16 and a current ratio of 1.43.

Chevron (NYSE:CVX – Free Report) last posted its quarterly earnings data on Friday, April 28th. The oil and gas company reported $3.55 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.14. Chevron had a net margin of 14.74% and a return on equity of 23.15%. The business had revenue of $50.79 billion during the quarter, compared to analysts’ expectations of $49.49 billion. During the same quarter in the prior year, the business posted $3.36 earnings per share. Chevron’s revenue was down 6.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Chevron Co. will post 13.83 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Friday, May 19th were given a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, May 18th. This represents a $6.04 annualized dividend and a yield of 3.84%. Chevron’s dividend payout ratio is 32.61%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CVX. Raymond James decreased their price target on shares of Chevron from $212.00 to $208.00 and set an “outperform” rating for the company in a research note on Friday, April 14th. Piper Sandler decreased their target price on shares of Chevron from $196.00 to $188.00 in a research note on Tuesday, June 13th. Truist Financial lowered their target price on shares of Chevron from $193.00 to $190.00 in a report on Monday, May 1st. UBS Group assumed coverage on shares of Chevron in a report on Wednesday, April 19th. They set a “buy” rating and a $212.00 target price on the stock. Finally, StockNews.com assumed coverage on shares of Chevron in a report on Thursday, May 18th. They set a “hold” rating on the stock. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $191.68.

Chevron Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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