Bartlett & CO. Wealth Management LLC lowered its stake in Chevron Corporation (NYSE:CVX - Free Report) by 3.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 514,160 shares of the oil and gas company's stock after selling 20,240 shares during the period. Chevron comprises 1.3% of Bartlett & CO. Wealth Management LLC's investment portfolio, making the stock its 23rd biggest position. Bartlett & CO. Wealth Management LLC's holdings in Chevron were worth $86,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. IMG Wealth Management Inc. purchased a new position in shares of Chevron in the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron during the fourth quarter worth $29,000. 10Elms LLP acquired a new position in Chevron during the fourth quarter worth $29,000. Fairway Wealth LLC raised its holdings in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 88 shares during the last quarter. Finally, IFS Advisors LLC raised its holdings in shares of Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after acquiring an additional 116 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.
Chevron Stock Performance
Shares of NYSE:CVX traded down $0.57 during trading on Friday, hitting $143.87. 9,207,479 shares of the company traded hands, compared to its average volume of 8,254,743. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $251.26 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 2.52 and a beta of 0.83. The business's fifty day moving average is $140.20 and its 200-day moving average is $148.22.
Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. During the same period last year, the firm earned $2.93 EPS. The firm's revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.
Chevron Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date was Monday, May 19th. Chevron's payout ratio is currently 78.17%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on CVX shares. HSBC downgraded Chevron from a "buy" rating to a "hold" rating and lowered their price objective for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. UBS Group decreased their target price on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $165.00 target price (up previously from $164.00) on shares of Chevron in a research report on Thursday. Piper Sandler decreased their target price on Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Finally, BNP Paribas cut Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $160.29.
Check Out Our Latest Stock Report on CVX
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; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.
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