Cerro Pacific Wealth Advisors LLC Lowers Stock Position in Chevron Co. (NYSE:CVX)

Cerro Pacific Wealth Advisors LLC lessened its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 17.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,624 shares of the oil and gas company's stock after selling 5,937 shares during the quarter. Chevron accounts for approximately 1.6% of Cerro Pacific Wealth Advisors LLC's portfolio, making the stock its 16th largest position. Cerro Pacific Wealth Advisors LLC's holdings in Chevron were worth $4,621,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Life Planning Partners Inc bought a new stake in shares of Chevron in the 4th quarter worth $25,000. IMG Wealth Management Inc. bought a new stake in shares of Chevron in the 4th quarter worth $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron in the 4th quarter worth $29,000. 10Elms LLP purchased a new position in shares of Chevron in the 4th quarter worth about $29,000. Finally, Fairway Wealth LLC boosted its holdings in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after buying an additional 88 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Trading Up 0.8%

NYSE:CVX traded up $1.10 during trading hours on Monday, hitting $137.80. The company had a trading volume of 9,074,640 shares, compared to its average volume of 8,109,898. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market capitalization of $240.64 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The stock has a 50-day moving average price of $141.88 and a 200 day moving average price of $150.44. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.93 earnings per share. On average, equities research analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.96%. The ex-dividend date is Monday, May 19th. Chevron's dividend payout ratio is currently 78.17%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CVX. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a report on Tuesday, May 6th. Royal Bank of Canada reissued an "outperform" rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Piper Sandler cut their price target on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. TD Cowen cut their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Finally, Mizuho lowered their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $160.24.

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.