Financial Partners Group LLC Sells 2,390 Shares of Chevron Corporation (NYSE:CVX)

Financial Partners Group LLC decreased its position in Chevron Corporation (NYSE:CVX - Free Report) by 8.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,818 shares of the oil and gas company's stock after selling 2,390 shares during the quarter. Chevron makes up 1.9% of Financial Partners Group LLC's portfolio, making the stock its 18th biggest holding. Financial Partners Group LLC's holdings in Chevron were worth $4,319,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. IMG Wealth Management Inc. bought a new stake in Chevron during the fourth quarter valued at about $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron during the 4th quarter valued at about $29,000. 10Elms LLP bought a new position in shares of Chevron during the 4th quarter valued at approximately $29,000. Fairway Wealth LLC increased its holdings in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after acquiring an additional 88 shares in the last quarter. Finally, IFS Advisors LLC raised its stake in Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after acquiring an additional 116 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVX has been the topic of several research analyst reports. Piper Sandler lowered their price objective on Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Wells Fargo & Company cut their price objective on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a report on Monday, May 5th. DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective on the stock. in a research report on Tuesday, May 6th. Finally, BNP Paribas lowered shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Three investment 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's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $160.24.

Chevron Stock Performance

Shares of CVX stock opened at $148.86 on Wednesday. The firm has a market cap of $259.97 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 2.56 and a beta of 0.83. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The company's 50 day moving average is $138.78 and its 200 day moving average is $148.91.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data 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. 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 firm's quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.93 EPS. On average, sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid 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 4.59%. Chevron's dividend payout ratio (DPR) is 78.17%.

About Chevron

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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