Poplar Forest Capital LLC Has $23.90 Million Position in Chevron Corporation (NYSE:CVX)

Poplar Forest Capital LLC lessened its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 9.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 142,848 shares of the oil and gas company's stock after selling 14,174 shares during the quarter. Chevron comprises about 4.2% of Poplar Forest Capital LLC's holdings, making the stock its 9th biggest holding. Poplar Forest Capital LLC's holdings in Chevron were worth $23,897,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in CVX. Life Planning Partners Inc purchased a new stake in Chevron during the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron in the fourth quarter valued at about $29,000. 10Elms LLP acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $29,000. Navigoe LLC purchased a new stake in shares of Chevron during the fourth quarter worth about $33,000. Finally, IFS Advisors LLC lifted its stake in shares of Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after buying an additional 116 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Down 0.6%

Chevron stock traded down $1.00 during midday trading on Friday, hitting $154.84. The stock had a trading volume of 7,872,671 shares, compared to its average volume of 12,051,790. 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 has a market cap of $270.40 billion, a P/E ratio of 17.70, a P/E/G ratio of 2.46 and a beta of 0.83. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The business has a fifty day moving average price of $145.12 and a 200 day moving average price of $148.83.

Chevron (NYSE:CVX - Get Free Report) last issued 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 return on equity of 10.73% and a net margin of 7.76%. The company had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the previous year, the firm posted $2.93 earnings per share. Chevron's quarterly revenue was down 2.3% compared to the same quarter last year. Research analysts predict that Chevron Corporation will post 10.79 EPS for the current 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 given a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.42%. Chevron's dividend payout ratio is presently 78.17%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CVX. Piper Sandler reiterated an "overweight" rating on shares of Chevron in a report on Tuesday, July 15th. Scotiabank reiterated a "sector perform" rating and set a $160.00 target price (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. BNP Paribas cut Chevron to a "cautious" rating in a report on Tuesday, April 15th. Finally, Barclays reiterated an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Chevron presently has a consensus rating of "Hold" and a consensus price target of $162.13.

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.