Dopkins Wealth Management LLC Reduces Stake in Chevron Corporation (NYSE:CVX)

Dopkins Wealth Management LLC reduced its position in Chevron Corporation (NYSE:CVX - Free Report) by 68.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,613 shares of the oil and gas company's stock after selling 3,500 shares during the period. Dopkins Wealth Management LLC's holdings in Chevron were worth $270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. Norges Bank purchased a new position in shares of Chevron in the 4th quarter worth $3,017,750,000. Raymond James Financial Inc. bought a new position in Chevron in the 4th quarter worth $1,036,302,000. GAMMA Investing LLC raised its holdings in Chevron by 21,191.5% in the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock worth $904,746,000 after purchasing an additional 5,382,847 shares during the period. Bank of New York Mellon Corp raised its holdings in Chevron by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock worth $2,389,380,000 after purchasing an additional 2,432,756 shares during the period. Finally, Amundi raised its holdings in Chevron by 27.7% in the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock worth $1,323,549,000 after purchasing an additional 1,910,262 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 0.8%

Shares of CVX stock opened at $149.36 on Monday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. 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 stock's 50-day moving average price is $139.37 and its 200-day moving average price is $148.58. The stock has a market capitalization of $260.84 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 2.63 and a beta of 0.83.

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

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued 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 4.58%. Chevron's dividend payout ratio (DPR) is 78.17%.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent research reports. Wells Fargo & Company decreased their target price on Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. BNP Paribas cut Chevron to a "cautious" rating in a report on Tuesday, April 15th. HSBC cut Chevron from a "buy" rating to a "hold" rating and decreased their target price for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Barclays cut Chevron from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Finally, DZ Bank cut Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a report on Tuesday, May 6th. 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 an average price target of $160.24.

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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