ORG Partners LLC Cuts Stock Position in Chevron Corporation (NYSE:CVX)

ORG Partners LLC cut its position in Chevron Corporation (NYSE:CVX - Free Report) by 17.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,902 shares of the oil and gas company's stock after selling 1,828 shares during the quarter. ORG Partners LLC's holdings in Chevron were worth $1,380,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. IMG Wealth Management Inc. purchased a new stake in Chevron in the fourth quarter valued at about $25,000. Life Planning Partners Inc acquired a new position in shares of Chevron during the fourth quarter valued at about $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron in the 4th quarter valued at approximately $29,000. 10Elms LLP acquired a new stake in Chevron in the 4th quarter worth approximately $29,000. Finally, Fairway Wealth LLC grew its position 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 purchasing an additional 88 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Down 0.4%

Shares of Chevron stock opened at $148.18 on Friday. The firm has a 50-day simple moving average of $139.09 and a two-hundred day simple moving average of $148.81. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a market cap of $258.78 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 2.60 and a beta of 0.83.

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

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio is currently 78.17%.

Analyst Ratings Changes

Several equities research analysts have recently commented on CVX shares. Barclays downgraded shares of Chevron from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. TD Cowen dropped their price target on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Wells Fargo & Company reduced their price objective on Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Scotiabank lowered Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Finally, BNP Paribas lowered shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Chevron presently has a consensus rating of "Hold" and an average target price of $160.24.

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.

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