TrinityPoint Wealth LLC Trims Stock Position in Chevron Co. (NYSE:CVX)

TrinityPoint Wealth LLC cut its stake in Chevron Co. (NYSE:CVX) by 18.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,114 shares of the oil and gas company’s stock after selling 2,498 shares during the period. TrinityPoint Wealth LLC’s holdings in Chevron were worth $1,610,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Life Planning Partners Inc purchased a new stake in Chevron in the fourth quarter valued at $25,000. IMG Wealth Management Inc. purchased a new stake in shares of Chevron in the fourth quarter valued at about $25,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Chevron in the fourth quarter valued at about $29,000. Fairway Wealth LLC raised its holdings in shares of Chevron by 75.9% in the fourth 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 purchased a new stake in shares of Chevron in the fourth quarter valued at about $33,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Down 0.2%

CVX stock opened at $142.04 on Friday. The company’s 50 day simple moving average is $146.65 and its 200-day simple moving average is $151.79. The firm has a market capitalization of $248.06 billion, a PE ratio of 14.61, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

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

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.82%. The ex-dividend date is Monday, May 19th. Chevron’s payout ratio is 78.17%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and reduced their target price for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Hsbc Global Res cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. UBS Group reduced their target price 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. BNP Paribas cut shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Finally, Raymond James dropped their price target 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, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $160.24.

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.