Syntax Research Inc. Has $746,000 Holdings in Chevron Corporation (NYSE:CVX)

Key Points

• Syntax Research Inc. has decreased its holdings in Chevron Corporation by 54.4%, selling 5,314 shares during the first quarter, reducing their ownership to 4,456 shares valued at approximately $746,000.
• Recent analyst reports show varying opinions on Chevron's stock, with Mizuho maintaining an "outperform" rating while Redburn Atlantic issued a "sell" rating with a lower price target of $124.00.
• Chevron has recently declared a quarterly dividend of $1.71 per share, reflecting a 4.39% yield, with a payout ratio of 78.17% and an anticipated annual earnings per share (EPS) of 10.79 for the current year.

Syntax Research Inc. lowered its stake in Chevron Corporation (NYSE:CVX - Free Report) by 54.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,456 shares of the oil and gas company's stock after selling 5,314 shares during the quarter. Syntax Research Inc.'s holdings in Chevron were worth $746,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. CoreCap Advisors LLC grew its holdings in Chevron by 0.3% during the fourth quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock worth $4,091,000 after purchasing an additional 71 shares during the period. Clayton Financial Group LLC raised its position in shares of Chevron by 4.6% in the first quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock valued at $285,000 after buying an additional 75 shares in the last quarter. Requisite Capital Management LLC raised its position in shares of Chevron by 1.2% in the first quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company's stock valued at $1,064,000 after buying an additional 77 shares in the last quarter. Silverlake Wealth Management LLC raised its position in Chevron by 0.7% during the first quarter. Silverlake Wealth Management LLC now owns 10,929 shares of the oil and gas company's stock valued at $1,828,000 after purchasing an additional 78 shares in the last quarter. Finally, Annandale Capital LLC raised its position in Chevron by 5.7% during the fourth quarter. Annandale Capital LLC now owns 1,471 shares of the oil and gas company's stock valued at $213,000 after purchasing an additional 79 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on CVX shares. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a research report on Tuesday, May 6th. Barclays reiterated an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. Scotiabank reiterated a "sector perform" rating and set a $160.00 price target (up from $143.00) on shares of Chevron in a report on Friday, July 11th. Wells Fargo & Company upped their price target on shares of Chevron from $165.00 to $178.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, BNP Paribas downgraded shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $162.13.

Chevron Trading Down 0.4%

Shares of Chevron stock traded down $0.61 during trading on Tuesday, hitting $155.67. The company's stock had a trading volume of 2,394,383 shares, compared to its average volume of 9,456,901. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a market cap of $271.87 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 2.44 and a beta of 0.83. The stock has a 50-day moving average price of $145.48 and a two-hundred day moving average price of $148.84.

Chevron (NYSE:CVX - Get Free Report) last issued 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. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. During the same quarter in the prior year, the firm posted $2.93 earnings per share. The business's quarterly revenue was down 2.3% compared to the same quarter last year. Equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.39%. Chevron's dividend payout ratio is currently 78.17%.

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.