Private Wealth Partners LLC Sells 11,613 Shares of Chevron Corporation (NYSE:CVX)

Private Wealth Partners LLC lessened its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 184,695 shares of the oil and gas company's stock after selling 11,613 shares during the period. Chevron comprises 2.6% of Private Wealth Partners LLC's investment portfolio, making the stock its 11th largest holding. Private Wealth Partners LLC's holdings in Chevron were worth $30,898,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. IMG Wealth Management Inc. purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $25,000. Life Planning Partners Inc acquired a new stake in Chevron during the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron during the 4th quarter valued at $29,000. 10Elms LLP purchased a new stake in shares of Chevron in the fourth quarter valued at $29,000. Finally, Fairway Wealth LLC boosted its position in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after buying an additional 88 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent analyst reports. Barclays lowered Chevron from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. HSBC cut Chevron from a "buy" rating to a "hold" rating and lowered their target price for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target for the company. in a research report on Tuesday, May 6th. UBS Group decreased their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $160.24.

Chevron Stock Up 0.8%

Shares of Chevron stock traded up $1.17 during midday trading on Friday, reaching $149.36. 23,672,194 shares of the company's stock traded hands, compared to its average volume of 8,231,243. 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 52 week low of $132.04 and a 52 week high of $168.96. The company's 50 day simple moving average is $139.37 and its 200 day simple moving average is $148.65. The company has a market cap of $260.84 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 2.63 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $49.05 billion. During the same period last year, the company earned $2.93 earnings per share. The business's revenue was down 2.3% compared to the same quarter last year. Equities analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.58%. Chevron's dividend payout ratio (DPR) is currently 78.17%.

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.