Castle Rock Wealth Management LLC Reduces Stock Holdings in Chevron Co. (NYSE:CVX)

Castle Rock Wealth Management LLC lowered its stake in Chevron Co. (NYSE:CVX - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,600 shares of the oil and gas company's stock after selling 3,079 shares during the period. Chevron makes up approximately 3.3% of Castle Rock Wealth Management LLC's portfolio, making the stock its 4th biggest holding. Castle Rock Wealth Management LLC's holdings in Chevron were worth $13,608,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CVX. Life Planning Partners Inc purchased a new position in shares of Chevron in the 4th quarter valued at about $25,000. IMG Wealth Management Inc. purchased a new position in Chevron in the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron during the fourth quarter worth $29,000. 10Elms LLP purchased a new stake in Chevron during the fourth quarter worth $29,000. Finally, Fairway Wealth LLC boosted its position in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

Shares of Chevron stock traded down $1.78 on Wednesday, reaching $136.05. 6,859,635 shares of the company were exchanged, compared to its average volume of 8,082,541. The firm has a market cap of $237.60 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company's 50-day moving average is $143.58 and its two-hundred day moving average is $150.94.

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

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.03%. Chevron's dividend payout ratio is presently 78.17%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CVX. Raymond James lowered their price target on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research report on Monday, February 3rd. Barclays lowered Chevron from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. TD Cowen lowered their price objective on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Truist Financial reduced their price target on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research report on Tuesday, February 4th. Finally, Mizuho reduced their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Three equities 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, Chevron currently has an average rating of "Hold" and a consensus price target of $160.24.

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.