Oxbow Advisors LLC Sells 1,231 Shares of Chevron Co. (NYSE:CVX)

Posted by on Jul 14th, 2023

Oxbow Advisors LLC decreased its position in shares of Chevron Co. (NYSE:CVX – Free Report) by 9.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,566 shares of the oil and gas company’s stock after selling 1,231 shares during the quarter. Oxbow Advisors LLC’s holdings in Chevron were worth $1,887,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Everett Harris & Co. CA increased its stake in shares of Chevron by 0.9% in the 1st quarter. Everett Harris & Co. CA now owns 531,599 shares of the oil and gas company’s stock valued at $86,736,000 after acquiring an additional 4,984 shares in the last quarter. Steph & Co. increased its stake in shares of Chevron by 6.3% in the 1st quarter. Steph & Co. now owns 4,943 shares of the oil and gas company’s stock valued at $806,000 after acquiring an additional 295 shares in the last quarter. Mayflower Financial Advisors LLC increased its stake in shares of Chevron by 1.6% in the 4th quarter. Mayflower Financial Advisors LLC now owns 92,113 shares of the oil and gas company’s stock valued at $16,533,000 after acquiring an additional 1,453 shares in the last quarter. M&R Capital Management Inc. increased its stake in Chevron by 9.8% during the 4th quarter. M&R Capital Management Inc. now owns 7,580 shares of the oil and gas company’s stock valued at $1,361,000 after purchasing an additional 674 shares in the last quarter. Finally, Albion Financial Group UT increased its stake in Chevron by 0.6% during the 4th quarter. Albion Financial Group UT now owns 17,553 shares of the oil and gas company’s stock valued at $3,151,000 after purchasing an additional 105 shares in the last quarter. Institutional investors own 69.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Mizuho boosted their price target on shares of Chevron from $202.00 to $205.00 in a research note on Tuesday. 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. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $189.00 price target for the company in a research note on Tuesday, May 23rd. Morgan Stanley boosted their price target on shares of Chevron from $192.00 to $198.00 in a research note on Tuesday, May 23rd. Finally, 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 report on Thursday, June 1st. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $191.63.

Chevron Price Performance

Shares of NYSE:CVX opened at $157.50 on Friday. The company’s 50-day moving average is $155.96 and its 200 day moving average is $164.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.16 and a current ratio of 1.43. The company has a market capitalization of $298.41 billion, a P/E ratio of 8.50, a price-to-earnings-growth ratio of 0.81 and a beta of 1.16. Chevron Co. has a fifty-two week low of $132.54 and a fifty-two week high of $189.68.

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

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Shareholders of record on Friday, May 19th were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 3.83%. The ex-dividend date was Thursday, May 18th. Chevron’s dividend payout ratio (DPR) is presently 32.61%.

About Chevron

(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.

Read More

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.