Tritonpoint Wealth LLC Grows Stake in Chevron Co. (NYSE:CVX)

Tritonpoint Wealth LLC grew its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 3.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,226 shares of the oil and gas company's stock after buying an additional 1,877 shares during the quarter. Tritonpoint Wealth LLC's holdings in Chevron were worth $8,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CVX. Capital & Planning LLC lifted its holdings in shares of Chevron by 15.2% during the 4th quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company's stock valued at $243,000 after buying an additional 222 shares during the period. Eagle Capital Management LLC raised its holdings in Chevron by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock worth $5,011,000 after purchasing an additional 242 shares during the period. Union Bancaire Privee UBP SA bought a new position in Chevron in the 4th quarter worth $8,947,000. Allspring Global Investments Holdings LLC raised its holdings in Chevron by 18.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 263,872 shares of the oil and gas company's stock worth $38,712,000 after purchasing an additional 40,311 shares during the period. Finally, Van ECK Associates Corp raised its holdings in Chevron by 12.3% in the 4th quarter. Van ECK Associates Corp now owns 718,848 shares of the oil and gas company's stock worth $104,118,000 after purchasing an additional 78,602 shares during the period. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wells Fargo & Company decreased their target price on Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. DZ Bank cut Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a report on Tuesday, May 6th. Redburn Atlantic reaffirmed a "sell" rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, Mizuho decreased their target price on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Price Performance

Shares of Chevron stock traded up $0.77 during trading on Friday, reaching $145.74. 14,126,704 shares of the stock traded hands, compared to its average volume of 8,182,686. The company has a market capitalization of $254.52 billion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 1.46 and a beta of 0.83. The business has a fifty day simple moving average of $138.53 and a two-hundred day simple moving average of $149.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. 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 issued its quarterly earnings data 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. The firm 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 business's quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.93 earnings per share. Sell-side analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.69%. Chevron's payout ratio is 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.