Realta Investment Advisors Cuts Stake in Chevron Corporation (NYSE:CVX)

Realta Investment Advisors decreased its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 20.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,608 shares of the oil and gas company's stock after selling 1,909 shares during the quarter. Realta Investment Advisors' holdings in Chevron were worth $1,273,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Sage Capital Advisors llc increased its position in shares of Chevron by 2.2% during the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after purchasing an additional 919 shares during the last quarter. CCG Wealth Management LLC grew its stake in shares of Chevron by 2.3% during the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after acquiring an additional 145 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of Chevron by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock valued at $24,075,000 after acquiring an additional 675 shares during the period. Pines Wealth Management LLC grew its stake in shares of Chevron by 3.3% during the 1st quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company's stock valued at $1,306,000 after acquiring an additional 253 shares during the period. Finally, Viking Fund Management LLC grew its stake in shares of Chevron by 9.3% during the 1st quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company's stock valued at $19,573,000 after acquiring an additional 10,000 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Trading Up 0.8%

NYSE:CVX traded up $1.21 during midday trading on Friday, hitting $155.38. 8,332,244 shares of the company traded hands, compared to its average volume of 8,359,711. The firm's fifty day moving average is $142.62 and its 200-day moving average is $148.47. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The firm has a market capitalization of $271.35 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.63 and a beta of 0.83. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX - Get Free Report) last released its 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. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter last year, the firm posted $2.93 earnings per share. The business's revenue was down 2.3% compared to the same quarter last year. On average, sell-side analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

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

Analysts Set New Price Targets

CVX has been the subject of a number of recent research reports. Mizuho cut their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Piper Sandler boosted their price objective on Chevron from $162.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, July 2nd. Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. HSBC downgraded Chevron from a "buy" rating to a "hold" rating and dropped their price target for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $165.00 price target (up from $164.00) on shares of Chevron in a research note on Thursday, June 26th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Chevron presently has an average rating of "Hold" and an average price target of $161.65.

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.