Chevron Corporation (NYSE:CVX) Shares Sold by Colonial River Investments LLC

Colonial River Investments LLC trimmed its stake in Chevron Corporation (NYSE:CVX - Free Report) by 61.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,603 shares of the oil and gas company's stock after selling 4,129 shares during the period. Colonial River Investments LLC's holdings in Chevron were worth $436,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Eagle Capital Management LLC grew its stake in Chevron by 0.7% during 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 buying an additional 242 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in shares of Chevron by 7.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock valued at $5,212,000 after acquiring an additional 2,641 shares during the period. SVB Wealth LLC acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $17,050,000. Sage Investment Counsel LLC purchased a new position in shares of Chevron during the fourth quarter worth approximately $218,000. Finally, Maple Capital Management Inc. increased its holdings in shares of Chevron by 2.8% in the 4th quarter. Maple Capital Management Inc. now owns 158,623 shares of the oil and gas company's stock valued at $22,975,000 after acquiring an additional 4,307 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CVX. Redburn Atlantic reiterated a "sell" rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. UBS Group decreased their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Wells Fargo & Company reissued an "overweight" rating and set a $165.00 price target (up previously from $164.00) on shares of Chevron in a report on Thursday. Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Piper Sandler lowered their target price on Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Three 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 company. According to MarketBeat.com, Chevron presently has a consensus rating of "Hold" and a consensus target price of $160.29.

Chevron Trading Down 0.4%

Shares of CVX stock opened at $143.87 on Friday. The business's fifty day moving average price is $140.20 and its 200 day moving average price is $148.22. The firm has a market capitalization of $251.26 billion, a PE ratio of 16.44, a P/E/G ratio of 2.52 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.93 EPS. As a group, sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.75%. Chevron's payout ratio is currently 78.17%.

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.

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