Daymark Wealth Partners LLC Has $15.51 Million Stock Position in Chevron Corporation (NYSE:CVX)

Daymark Wealth Partners LLC cut its stake in Chevron Corporation (NYSE:CVX - Free Report) by 51.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,680 shares of the oil and gas company's stock after selling 96,900 shares during the quarter. Daymark Wealth Partners LLC's holdings in Chevron were worth $15,505,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. IMG Wealth Management Inc. bought a new stake in Chevron in the fourth quarter valued at approximately $25,000. Life Planning Partners Inc acquired a new position in shares of Chevron in the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron in the 4th quarter valued at $29,000. 10Elms LLP acquired a new stake in Chevron during the 4th quarter worth $29,000. Finally, Fairway Wealth LLC raised its stake in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after buying an additional 88 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 research analysts have issued reports on the company. UBS Group decreased their target price on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. HSBC lowered Chevron from a "buy" rating to a "hold" rating and decreased their price objective for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Scotiabank downgraded shares of Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Piper Sandler cut their price target on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Finally, Mizuho lowered their price objective 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. Three research 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $160.29.

Chevron Stock Up 0.8%

Shares of NYSE CVX traded up $1.17 during mid-day trading on Thursday, hitting $144.40. The company had a trading volume of 7,408,438 shares, compared to its average volume of 8,252,277. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The firm has a 50-day simple moving average of $139.95 and a two-hundred day simple moving average of $148.45. The company has a market capitalization of $252.18 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 2.52 and a beta of 0.83. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

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

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors 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 annualized dividend and a dividend yield of 4.74%. Chevron's dividend payout ratio 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.