Cutter & CO Brokerage Inc. Cuts Stock Holdings in Chevron Corporation (NYSE:CVX)

Cutter & CO Brokerage Inc. cut its stake in Chevron Corporation (NYSE:CVX - Free Report) by 23.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,861 shares of the oil and gas company's stock after selling 4,301 shares during the period. Cutter & CO Brokerage Inc.'s holdings in Chevron were worth $2,319,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVX. Eagle Capital Management LLC raised its stake in Chevron by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after buying an additional 242 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of Chevron by 7.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock worth $5,212,000 after acquiring an additional 2,641 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in Chevron by 59.5% during the fourth quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company's stock worth $847,000 after purchasing an additional 2,182 shares during the last quarter. one8zero8 LLC acquired a new position in Chevron in the fourth quarter valued at approximately $1,950,000. Finally, Tidemark LLC increased its stake in Chevron by 46.7% in the fourth quarter. Tidemark LLC now owns 6,882 shares of the oil and gas company's stock valued at $997,000 after purchasing an additional 2,192 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of NYSE CVX opened at $155.38 on Monday. The stock has a fifty day moving average price of $142.62 and a 200 day moving average price of $148.47. Chevron Corporation 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 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The company has a market cap of $271.35 billion, a PE ratio of 17.76, a P/E/G ratio of 2.63 and a beta of 0.83.

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

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.40%. Chevron's dividend payout ratio is currently 78.17%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Chevron from $152.00 to $156.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and reduced their price target for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. DZ Bank lowered Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective on the stock. in a report on Tuesday, May 6th. BNP Paribas downgraded Chevron to a "cautious" rating in a report on Tuesday, April 15th. Finally, Piper Sandler raised their price target on Chevron from $162.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 2nd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $161.65.

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.

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