Prostatis Group LLC Decreases Stock Position in Chevron Co. (NYSE:CVX)

Prostatis Group LLC lowered its position in shares of Chevron Co. (NYSE:CVX) by 8.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,796 shares of the oil and gas company’s stock after selling 330 shares during the period. Prostatis Group LLC’s holdings in Chevron were worth $550,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CVX. Allianz SE purchased a new position in Chevron in the 4th quarter valued at about $9,369,000. Nicholas Company Inc. lifted its stake in shares of Chevron by 4.3% in the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock worth $11,591,000 after acquiring an additional 3,280 shares in the last quarter. Applied Finance Capital Management LLC lifted its stake in shares of Chevron by 1.6% in the fourth quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company’s stock worth $26,044,000 after acquiring an additional 2,755 shares in the last quarter. Cerity Partners LLC boosted its holdings in Chevron by 4.5% in the fourth quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company’s stock valued at $174,817,000 after purchasing an additional 52,307 shares during the last quarter. Finally, Wedbush Securities Inc. grew its stake in Chevron by 6.8% during the 4th quarter. Wedbush Securities Inc. now owns 118,066 shares of the oil and gas company’s stock valued at $17,101,000 after purchasing an additional 7,557 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. HSBC lowered Chevron from a “buy” rating to a “hold” rating and cut their target price for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Piper Sandler cut their price target on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. TD Cowen decreased their price objective on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. Redburn Atlantic restated a “sell” rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Finally, BNP Paribas cut shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $160.24.

Chevron Stock Up 0.9%

NYSE:CVX opened at $137.78 on Wednesday. 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 stock has a 50 day moving average of $143.58 and a 200-day moving average of $150.94. The firm has a market capitalization of $240.62 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the prior year, the business earned $2.93 EPS. The firm’s revenue was down 2.3% on a year-over-year basis. Analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.96%. 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.