Kingstone Capital Partners Texas LLC Cuts Stock Holdings in Chevron Co. (NYSE:CVX)

Kingstone Capital Partners Texas LLC lowered its holdings in Chevron Co. (NYSE:CVX - Free Report) by 12.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 12,835 shares of the oil and gas company's stock after selling 1,802 shares during the quarter. Chevron makes up about 1.7% of Kingstone Capital Partners Texas LLC's investment portfolio, making the stock its 22nd largest holding. Kingstone Capital Partners Texas LLC's holdings in Chevron were worth $2,147,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. TFB Advisors LLC increased its holdings in Chevron by 2.4% in the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company's stock valued at $411,000 after purchasing an additional 66 shares during the last quarter. W.H. Cornerstone Investments Inc. grew its stake in shares of Chevron by 1.4% in the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock worth $677,000 after acquiring an additional 66 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Chevron by 0.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock worth $2,207,000 after acquiring an additional 66 shares in the last quarter. Berkeley Capital Partners LLC grew its stake in shares of Chevron by 0.4% in the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock worth $2,572,000 after acquiring an additional 67 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC grew its stake in shares of Chevron by 6.1% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company's stock worth $171,000 after acquiring an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

CVX has been the subject of several research reports. Barclays downgraded shares of Chevron from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Wells Fargo & Company dropped 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 lowered Chevron to a "cautious" rating in a report on Tuesday, April 15th. TD Cowen reduced their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Finally, Piper Sandler reduced their price target on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $160.24.

Chevron Stock Performance

Shares of NYSE:CVX traded up $0.77 on Friday, reaching $145.74. The company's stock had a trading volume of 14,126,704 shares, compared to its average volume of 8,174,571. The stock's 50-day moving average is $138.35 and its two-hundred day moving average is $149.32. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market capitalization of $254.52 billion, a P/E ratio of 14.99, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. 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 prior year, the company earned $2.93 earnings per share. The business's revenue was down 2.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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 4.69%. 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.