SKY Mountain Capital Management Inc. Invests $428,000 in Chevron Corporation (NYSE:CVX)

SKY Mountain Capital Management Inc. acquired a new position in Chevron Corporation (NYSE:CVX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,559 shares of the oil and gas company's stock, valued at approximately $428,000. Chevron comprises about 0.4% of SKY Mountain Capital Management Inc.'s investment portfolio, making the stock its 24th largest holding.

Several other institutional investors have also added to or reduced their stakes in the company. IMG Wealth Management Inc. bought a new stake in shares of Chevron during the fourth quarter valued at approximately $25,000. Life Planning Partners Inc bought a new stake in shares of Chevron during the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron during the fourth quarter valued at approximately $29,000. 10Elms LLP bought a new stake in shares of Chevron during the fourth quarter valued at approximately $29,000. Finally, Navigoe LLC bought a new stake in shares of Chevron during the fourth quarter valued at approximately $33,000. Institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Redburn Atlantic reissued a "sell" rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Mizuho cut their price target on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. BNP Paribas lowered shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, TD Cowen cut their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $161.65.

Chevron Stock Performance

NYSE CVX traded up $1.63 on Thursday, reaching $151.55. 8,351,341 shares of the company's stock traded hands, compared to its average volume of 8,379,728. The firm has a market cap of $264.66 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 2.56 and a beta of 0.83. The stock has a 50 day moving average price of $143.53 and a 200-day moving average price of $148.55. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. 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 (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 (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 the consensus estimate of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm's quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.93 earnings per share. Equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 dividend on an annualized basis and a dividend yield of 4.51%. Chevron's dividend payout ratio (DPR) is currently 78.17%.

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.