Chevron Co. (NYSE:CVX) Shares Sold by Richard P Slaughter Associates Inc

Richard P Slaughter Associates Inc lowered its stake in shares of Chevron Co. (NYSE:CVX) by 89.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,579 shares of the oil and gas company’s stock after selling 13,277 shares during the period. Richard P Slaughter Associates Inc’s holdings in Chevron were worth $264,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Sage Capital Advisors llc boosted its stake in shares of Chevron by 2.2% during the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock valued at $7,097,000 after acquiring an additional 919 shares during the last quarter. Viking Fund Management LLC lifted its position in Chevron by 9.3% during the first quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company’s stock worth $19,573,000 after buying an additional 10,000 shares during the period. Allianz SE purchased a new position in Chevron during the fourth quarter worth about $9,369,000. Nicholas Company Inc. lifted its position in Chevron by 4.3% during the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock worth $11,591,000 after buying an additional 3,280 shares during the period. Finally, Applied Finance Capital Management LLC lifted its position in Chevron by 1.6% during 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 buying an additional 2,755 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX opened at $139.55 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $243.71 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 1.46 and a beta of 0.83. The stock’s fifty day simple moving average is $140.73 and its 200 day simple moving average is $150.20. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96.

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

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors 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 4.90%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s payout ratio is 78.17%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CVX shares. HSBC downgraded Chevron from a “buy” rating to a “hold” rating and reduced their target price for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. DZ Bank downgraded Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a research report on Tuesday, May 6th. Barclays downgraded Chevron from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Piper Sandler reduced their target price on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Finally, Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.