Catalina Capital Group LLC Cuts Position in Chevron Corporation (NYSE:CVX)

Catalina Capital Group LLC cut its position in Chevron Corporation (NYSE:CVX - Free Report) by 57.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,076 shares of the oil and gas company's stock after selling 4,160 shares during the quarter. Catalina Capital Group LLC's holdings in Chevron were worth $515,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. IMG Wealth Management Inc. purchased a new position in Chevron during the 4th quarter worth $25,000. Life Planning Partners Inc purchased a new stake in Chevron in the fourth quarter valued at about $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron in the fourth quarter worth about $29,000. 10Elms LLP purchased a new stake in shares of Chevron during the fourth quarter worth about $29,000. Finally, Fairway Wealth LLC increased its holdings in shares of Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after acquiring an additional 88 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the company from $160.00 to $143.00 in a research report on Friday, April 11th. BNP Paribas cut shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Mizuho lowered their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective on the stock. in a report on Tuesday, May 6th. Finally, TD Cowen cut their target price on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, Chevron presently has a consensus rating of "Hold" and an average target price of $160.24.

Chevron Stock Performance

Shares of NYSE CVX traded down $0.67 during trading on Thursday, reaching $148.18. 9,824,086 shares of the company traded hands, compared to its average volume of 8,222,007. The stock has a market cap of $258.78 billion, a P/E ratio of 16.93, a PEG ratio of 2.61 and a beta of 0.83. The firm's fifty day simple moving average is $138.82 and its 200 day simple moving average is $148.90. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

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, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the previous year, the company posted $2.93 earnings per share. Chevron's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.62%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio is currently 78.17%.

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; 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.