Chapman Investment Management LLC Sells 2,392 Shares of Chevron Corporation (NYSE:CVX)

Chapman Investment Management LLC cut its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 51.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,258 shares of the oil and gas company's stock after selling 2,392 shares during the quarter. Chevron accounts for about 0.3% of Chapman Investment Management LLC's investment portfolio, making the stock its 27th largest holding. Chapman Investment Management LLC's holdings in Chevron were worth $378,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. acquired a new position in shares of Chevron during the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron during the fourth quarter worth about $29,000. 10Elms LLP acquired a new position in Chevron during the fourth quarter worth about $29,000. IFS Advisors LLC grew its holdings in Chevron by 119.6% during 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 period. Finally, Navigoe LLC acquired a new position in Chevron during the fourth quarter worth about $33,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

NYSE:CVX traded up $1.21 during trading hours on Friday, reaching $155.38. The company had a trading volume of 8,332,244 shares, compared to its average volume of 8,352,057. The stock has a 50-day moving average of $142.28 and a two-hundred day moving average of $148.33. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a market capitalization of $271.35 billion, a PE ratio of 17.76, a PEG ratio of 2.61 and a beta of 0.83. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17.

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 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 firm had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. During the same period in the prior year, the business posted $2.93 earnings per share. The business's revenue was down 2.3% compared to the same quarter last year. Analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.40%. The ex-dividend date was Monday, May 19th. Chevron's payout ratio is presently 78.17%.

Analysts Set New Price Targets

CVX has been the topic of a number of analyst reports. Piper Sandler lifted their price target on Chevron from $162.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 2nd. DZ Bank cut Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target for the company. in a research note on Tuesday, May 6th. Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. HSBC lowered Chevron from a "buy" rating to a "hold" rating and reduced their target price for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Finally, Scotiabank upped their price target on Chevron from $143.00 to $160.00 and gave the stock a "sector perform" rating in a report on Friday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $161.65.

Chevron Company 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.