Chevron Co. (NYSE:CVX) Shares Sold by Kingstone Capital Partners Texas LLC

Kingstone Capital Partners Texas LLC trimmed its holdings in Chevron Co. (NYSE:CVX - Free Report) by 12.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,835 shares of the oil and gas company's stock after selling 1,802 shares during the quarter. Chevron accounts for approximately 1.7% of Kingstone Capital Partners Texas LLC's investment portfolio, making the stock its 22nd biggest holding. Kingstone Capital Partners Texas LLC's holdings in Chevron were worth $2,147,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Life Planning Partners Inc purchased a new position in shares of Chevron in the 4th quarter valued at about $25,000. IMG Wealth Management Inc. purchased a new stake in shares of Chevron in the fourth quarter valued at about $25,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Chevron during the fourth quarter worth about $29,000. 10Elms LLP purchased a new stake in Chevron in the 4th quarter valued at about $29,000. Finally, Fairway Wealth LLC grew its position in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after acquiring an additional 88 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Price Performance

NYSE:CVX traded up $2.64 during trading hours on Tuesday, reaching $143.40. The stock had a trading volume of 9,839,580 shares, compared to its average volume of 8,133,987. 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 quick ratio of 0.80 and a current ratio of 1.07. The company has a 50 day moving average price of $138.46 and a two-hundred day moving average price of $149.50. The stock has a market capitalization of $250.43 billion, a PE ratio of 14.75, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last announced 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. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter last year, the firm posted $2.93 earnings per share. The business's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.77%. Chevron's payout ratio is currently 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research analyst reports. Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Piper Sandler cut their price objective 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. UBS Group dropped their price objective on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Wells Fargo & Company dropped their price target on Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Finally, Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, 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.