Interval Partners LP Decreases Stock Holdings in Chevron Co. (NYSE:CVX)

Interval Partners LP reduced its holdings in Chevron Co. (NYSE:CVX - Free Report) by 35.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 44,927 shares of the oil and gas company's stock after selling 25,118 shares during the period. Interval Partners LP's holdings in Chevron were worth $6,507,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new position in Chevron in the 4th quarter valued at about $25,000. IMG Wealth Management Inc. acquired a new position in Chevron in the 4th quarter valued at about $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron in the 4th quarter valued at about $29,000. Fairway Wealth LLC grew its stake 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 buying an additional 88 shares during the last quarter. Finally, Navigoe LLC acquired a new position in Chevron in the 4th quarter valued at about $33,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

Chevron stock traded down $1.13 during mid-day trading on Wednesday, reaching $141.22. 6,437,758 shares of the company's stock traded hands, compared to its average volume of 8,016,224. The company has a market cap of $248.63 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 1.46 and a beta of 0.83. The stock has a 50 day moving average of $147.51 and a two-hundred day moving average of $151.94. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced 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 net margin of 8.71% and a return on equity of 11.44%. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter in the prior year, the firm posted $2.93 earnings per share. The business's revenue for the quarter was down 2.3% on a year-over-year basis. Equities analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date is Monday, May 19th. Chevron's payout ratio is presently 78.17%.

Analyst Ratings Changes

A number of research analysts have issued reports on CVX shares. BNP Paribas lowered shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Redburn Atlantic reissued a "sell" rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Barclays downgraded shares of Chevron from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. UBS Group reduced their price objective 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, Wells Fargo & Company cut their price target on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $160.24.

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.