Core Alternative Capital Sells 7,670 Shares of Chevron Corporation (NYSE:CVX)

Core Alternative Capital lessened its stake in Chevron Corporation (NYSE:CVX - Free Report) by 16.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,825 shares of the oil and gas company's stock after selling 7,670 shares during the period. Chevron accounts for 1.5% of Core Alternative Capital's portfolio, making the stock its 23rd biggest holding. Core Alternative Capital's holdings in Chevron were worth $6,328,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. IMG Wealth Management Inc. bought a new position in Chevron during the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron during the fourth quarter valued at approximately $29,000. 10Elms LLP bought a new position in Chevron during the fourth quarter valued at approximately $29,000. Fairway Wealth LLC raised 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 valued at $30,000 after acquiring an additional 88 shares in the last quarter. Finally, IFS Advisors LLC raised its position in Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after acquiring an additional 116 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on CVX shares. Barclays raised their price objective on shares of Chevron from $152.00 to $156.00 and gave the company an "equal weight" rating in a research report on Monday. TD Cowen dropped their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Wells Fargo & Company reissued an "overweight" rating and issued a $165.00 price target (up previously from $164.00) on shares of Chevron in a research report on Thursday, June 26th. Piper Sandler lifted their price target on shares of Chevron from $162.00 to $164.00 and gave the company an "overweight" rating in a research report on Wednesday, July 2nd. Finally, UBS Group dropped their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of "Hold" and a consensus price target of $160.65.

Chevron Price Performance

Shares of NYSE CVX traded up $5.49 during midday trading on Tuesday, reaching $152.89. 6,914,277 shares of the company traded hands, compared to its average volume of 8,282,961. The firm has a market cap of $267.01 billion, a PE ratio of 17.47, a PEG ratio of 2.51 and a beta of 0.83. The stock's 50-day simple moving average is $141.31 and its 200-day simple moving average is $148.18. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $49.05 billion. During the same period in the previous year, the business posted $2.93 earnings per share. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued 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 4.47%. Chevron's dividend 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.