44 Wealth Management LLC decreased its stake in shares of Chevron Co. (NYSE:CVX – Free Report) by 4.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,903 shares of the oil and gas company’s stock after selling 596 shares during the quarter. 44 Wealth Management LLC’s holdings in Chevron were worth $1,942,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rebalance LLC purchased a new position in Chevron during the 4th quarter valued at about $26,000. Western Pacific Wealth Management LP purchased a new position in Chevron during the 4th quarter valued at about $37,000. Red Tortoise LLC purchased a new position in Chevron during the 4th quarter valued at about $37,000. Worth Asset Management LLC purchased a new position in Chevron during the 1st quarter valued at about $36,000. Finally, JDM Financial Group LLC purchased a new position in Chevron during the 4th quarter valued at about $42,000. Institutional investors own 69.65% of the company’s stock.
Chevron Stock Performance
Shares of NYSE CVX opened at $152.87 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.13. 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 $156.44 and a two-hundred day simple moving average of $164.69. The stock has a market cap of $289.63 billion, a price-to-earnings ratio of 8.25, a PEG ratio of 0.79 and a beta of 1.16.
Chevron Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Friday, May 19th were paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend was Thursday, May 18th. Chevron’s dividend payout ratio is currently 32.61%.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the stock. UBS Group assumed coverage on shares of Chevron in a research report on Wednesday, April 19th. They set a “buy” rating and a $212.00 target price on the stock. Truist Financial cut their target price on shares of Chevron from $193.00 to $190.00 in a research report on Monday, May 1st. Royal Bank of Canada raised shares of Chevron from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $165.00 to $180.00 in a research report on Thursday, June 1st. Raymond James cut their price objective on shares of Chevron from $212.00 to $208.00 and set an “outperform” rating on the stock in a research report on Friday, April 14th. Finally, Mizuho cut their price objective on shares of Chevron from $206.00 to $196.00 in a research report on Friday, May 19th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.
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