Richard P Slaughter Associates Inc Sells 13,277 Shares of Chevron Co. (NYSE:CVX)

Richard P Slaughter Associates Inc decreased its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 89.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,579 shares of the oil and gas company's stock after selling 13,277 shares during the quarter. Richard P Slaughter Associates Inc's holdings in Chevron were worth $264,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. acquired a new position in Chevron in the 4th quarter worth $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron in the 4th quarter worth $29,000. 10Elms LLP acquired a new position in Chevron in the 4th quarter worth $29,000. Fairway Wealth LLC increased its position 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 purchasing an additional 88 shares during the last quarter. Finally, Navigoe LLC bought a new stake in shares of Chevron in the 4th quarter worth about $33,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CVX shares. DZ Bank cut shares of 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. Mizuho decreased their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Piper Sandler decreased their target price on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Barclays cut shares of Chevron from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company dropped their price target on Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. 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, Chevron currently has an average rating of "Hold" and a consensus price target of $160.24.

Chevron Stock Up 2.4%

Chevron stock traded up $3.31 during mid-day trading on Friday, hitting $140.21. 6,555,988 shares of the company's stock were exchanged, compared to its average volume of 8,131,049. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market cap of $244.86 billion, a P/E ratio of 14.42, 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 stock has a 50 day moving average of $138.98 and a two-hundred day moving average of $149.81.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm's revenue was down 2.3% compared to the same quarter last year. During the same period last year, the business posted $2.93 earnings per share. As a group, analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date is Monday, May 19th. Chevron's dividend payout ratio (DPR) is presently 78.17%.

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.