Interval Partners LP Has $6.51 Million Stake in Chevron Co. (NYSE:CVX)

Interval Partners LP lowered its stake in Chevron Co. (NYSE:CVX) by 35.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 44,927 shares of the oil and gas company’s stock after selling 25,118 shares during the quarter. Interval Partners LP’s holdings in Chevron were worth $6,507,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. Regent Peak Wealth Advisors LLC increased its position in Chevron by 4.3% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 4,117 shares of the oil and gas company’s stock worth $596,000 after purchasing an additional 168 shares during the period. Czech National Bank boosted its stake in shares of Chevron by 4.6% in the 4th quarter. Czech National Bank now owns 362,358 shares of the oil and gas company’s stock valued at $52,484,000 after purchasing an additional 15,868 shares during the last quarter. Aprio Wealth Management LLC grew its position in shares of Chevron by 10.9% during the 4th quarter. Aprio Wealth Management LLC now owns 5,047 shares of the oil and gas company’s stock worth $731,000 after buying an additional 495 shares during the period. Matrix Trust Co lifted its holdings in Chevron by 3.0% in the fourth quarter. Matrix Trust Co now owns 8,453 shares of the oil and gas company’s stock valued at $1,224,000 after buying an additional 248 shares during the period. Finally, Clark & Stuart Inc acquired a new position in Chevron in the fourth quarter valued at approximately $2,234,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wells Fargo & Company dropped their target price on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective for the company. in a research note on Tuesday, May 6th. Truist Financial cut their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Finally, Raymond James reduced their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chevron presently has a consensus rating of “Hold” and an average target price of $161.25.

Chevron Stock Up 1.1%

Shares of CVX stock opened at $138.52 on Monday. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a market capitalization of $243.88 billion, a P/E ratio of 14.25, a PEG ratio of 1.46 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm’s fifty day moving average price is $147.91 and its two-hundred day moving average price is $152.07.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the previous year, the firm earned $2.93 EPS. The business’s quarterly revenue was down 2.3% on a year-over-year basis. On average, equities analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.94%. The ex-dividend date of this dividend is Monday, May 19th. 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.