Quadrant Private Wealth Management LLC Has $4.12 Million Holdings in Chevron Corporation $CVX

Key Points

• Quadrant Private Wealth Management reduced its Chevron stake by 21.5% in Q1, selling 5,455 shares and leaving it with 19,895 shares valued at about $4.12 million.
• Chevron posted mixed latest-quarter results, with EPS of $1.41 beating estimates but revenue of $47.56 billion coming in below expectations, even as sales rose 2.1% year over year.
• The company continues to attract attention for its 3.8% dividend yield and broadly positive analyst sentiment, with a consensus rating of Moderate Buy and an average price target of $206.83.

Quadrant Private Wealth Management LLC cut its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 21.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,895 shares of the oil and gas company's stock after selling 5,455 shares during the period. Quadrant Private Wealth Management LLC's holdings in Chevron were worth $4,116,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVX. Midwest Capital Advisors LLC acquired a new position in Chevron in the first quarter worth $25,000. Core Wealth Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter valued at $26,000. Phillip James Consulting Co. acquired a new stake in shares of Chevron in the fourth quarter valued at $26,000. Basso Capital Management L.P. bought a new position in shares of Chevron in the fourth quarter valued at about $27,000. Finally, Karpus Management Inc. bought a new position in shares of Chevron in the fourth quarter valued at about $27,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expected to sign accords with Iraq to advance investments in major oil fields, including West Qurna 2 and Nassiriya, which could expand long-term production opportunities. Reuters article on Iraq oilfield MOUs
• Positive Sentiment: Reports that Chevron is exploring a pipeline alternative to the Strait of Hormuz suggest a potential way to boost Iraqi export capacity and lower shipping disruption risk, which investors may view as strategically important. The Motley Fool article on Hormuz bypass pipeline
• Positive Sentiment: Chevron is being highlighted as a relatively attractive long-term energy stock versus TotalEnergies because of its premium assets, strong balance sheet, and steadier earnings outlook. Yahoo Finance article comparing CVX and TTE
• Neutral Sentiment: Some commentary says Chevron stock looks closer to fairly valued after a strong five-year run, which may limit upside for investors expecting a clear bargain. Yahoo Finance article on valuation
• Neutral Sentiment: Chevron also benefited from broader energy-sector gains, with the sector rising even as the wider market was mixed. Yahoo Finance sector update

Chevron Stock Performance

Shares of NYSE:CVX opened at $187.39 on Friday. The stock has a market capitalization of $373.21 billion, a P/E ratio of 32.48, a P/E/G ratio of 0.64 and a beta of 0.50. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average price of $181.54 and a two-hundred day moving average price of $182.44.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.41. The company had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company's revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.18 EPS. Equities analysts predict that Chevron Corporation will post 14.83 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were paid a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron's payout ratio is 123.40%.

Analyst Ratings Changes

Several research analysts recently issued reports on CVX shares. TD Cowen upped their price target on shares of Chevron from $204.00 to $205.00 and gave the stock a "hold" rating in a research report on Friday, May 8th. HSBC raised shares of Chevron from a "hold" rating to a "buy" rating and set a $215.00 target price for the company in a research note on Friday, March 20th. UBS Group reiterated a "buy" rating on shares of Chevron in a research report on Tuesday, June 23rd. Morgan Stanley decreased their price target on shares of Chevron from $214.00 to $210.00 and set an "overweight" rating on the stock in a research note on Monday, June 29th. Finally, Zacks Research lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Monday, June 8th. Nineteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $206.83.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 380,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares of the company's stock, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by corporate insiders.

Chevron Profile

Chevron Corporation NYSE: CVX is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron's core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

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