RKL Wealth Management LLC Sells 5,201 Shares of Chevron Corporation (NYSE:CVX)

RKL Wealth Management LLC reduced its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 15.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,264 shares of the oil and gas company's stock after selling 5,201 shares during the period. RKL Wealth Management LLC's holdings in Chevron were worth $4,896,000 at the end of the most recent reporting period.

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

Chevron Trading Up 0.2%

Shares of Chevron stock traded up $0.25 during trading on Thursday, reaching $148.23. 5,167,551 shares of the company were exchanged, compared to its average volume of 8,968,813. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The business has a 50-day moving average price of $140.78 and a 200-day moving average price of $148.08. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $258.86 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 2.48 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 analysts' consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. Chevron's revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.93 EPS. Sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio is currently 78.17%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CVX. TD Cowen lowered their target price on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. BNP Paribas lowered shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Redburn Atlantic reiterated a "sell" rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Finally, HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and lowered their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $160.41.

About Chevron

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.