Capital Advisors Wealth Management LLC Decreases Stock Holdings in Chevron Corporation (NYSE:CVX)

Capital Advisors Wealth Management LLC reduced its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 35.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,557 shares of the oil and gas company's stock after selling 5,754 shares during the quarter. Capital Advisors Wealth Management LLC's holdings in Chevron were worth $1,766,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Sage Capital Advisors llc raised its holdings in shares of Chevron by 2.2% during the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after acquiring an additional 919 shares in the last quarter. CCG Wealth Management LLC increased its position in Chevron by 2.3% during the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after purchasing an additional 145 shares during the period. Pines Wealth Management LLC increased its position in Chevron by 3.3% during the 1st quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company's stock valued at $1,306,000 after purchasing an additional 253 shares during the period. Viking Fund Management LLC raised its holdings in Chevron by 9.3% in the 1st quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company's stock worth $19,573,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Allianz SE purchased a new stake in shares of Chevron in the 4th quarter worth about $9,369,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CVX shares. Piper Sandler cut their target price on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. UBS Group cut their price objective on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. TD Cowen reduced their target price on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a report on Monday, May 5th. BNP Paribas lowered Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $165.00 price target (up from $164.00) on shares of Chevron in a research report on Thursday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $160.29.

Chevron Trading Down 0.4%

NYSE CVX opened at $143.87 on Friday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The stock's fifty day moving average price is $140.20 and its 200-day moving average price is $148.22. The stock has a market cap of $251.26 billion, a P/E ratio of 16.44, a P/E/G ratio of 2.52 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. Chevron's revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.93 EPS. As a group, equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.75%. Chevron's dividend payout ratio is presently 78.17%.

About Chevron

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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