Chevron Co. (NYSE:CVX) Stake Reduced by Integrated Advisors Network LLC

Integrated Advisors Network LLC cut its holdings in Chevron Co. (NYSE:CVX) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,381 shares of the oil and gas company’s stock after selling 898 shares during the quarter. Integrated Advisors Network LLC’s holdings in Chevron were worth $10,268,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVX. Life Planning Partners Inc bought a new stake in Chevron in the fourth quarter worth about $25,000. IMG Wealth Management Inc. bought a new stake in Chevron in the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron in the fourth quarter worth about $29,000. 10Elms LLP bought a new stake in Chevron in the fourth quarter worth about $29,000. Finally, Fairway Wealth LLC raised its position in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 88 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Redburn Atlantic reiterated a “sell” rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Wells Fargo & Company cut their price objective on Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. BNP Paribas downgraded Chevron to a “cautious” rating in a report on Tuesday, April 15th. Piper Sandler cut their price objective on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a 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 equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and a consensus target price of $160.24.

Chevron Price Performance

Shares of CVX opened at $143.40 on Wednesday. The company has a market capitalization of $250.43 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week 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. The business’s 50-day moving average is $138.21 and its 200-day moving average is $149.46.

Chevron (NYSE:CVX) last released 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 for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter in the prior year, the company posted $2.93 earnings per share. The firm’s revenue was down 2.3% on a year-over-year basis. Equities research analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.77%. Chevron’s dividend payout ratio is currently 78.17%.

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.