Visionary Horizons LLC Reduces Holdings in Chevron Co. (NYSE:CVX)

Visionary Horizons LLC cut its position in Chevron Co. (NYSE:CVX) by 17.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,168 shares of the oil and gas company’s stock after selling 650 shares during the quarter. Visionary Horizons LLC’s holdings in Chevron were worth $530,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Capital & Planning LLC grew its stake in Chevron by 15.2% during the 4th quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company’s stock valued at $243,000 after purchasing an additional 222 shares in the last quarter. Eagle Capital Management LLC boosted its stake in shares of Chevron by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock valued at $5,011,000 after buying an additional 242 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Chevron during the fourth quarter worth approximately $8,947,000. Principle Wealth Partners LLC increased its stake in shares of Chevron by 0.5% in the fourth quarter. Principle Wealth Partners LLC now owns 39,102 shares of the oil and gas company’s stock worth $5,664,000 after buying an additional 199 shares during the last quarter. Finally, Pineridge Advisors LLC raised its holdings in Chevron by 286.7% in the fourth quarter. Pineridge Advisors LLC now owns 1,253 shares of the oil and gas company’s stock valued at $181,000 after acquiring an additional 929 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on CVX shares. TD Cowen cut their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. BNP Paribas lowered Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Piper Sandler lowered their target price on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. Finally, Mizuho reduced their price target on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Three investment 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 MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $160.24.

Chevron Stock Performance

CVX opened at $143.40 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 business’s 50 day moving average is $138.21 and its 200-day moving average is $149.46. The stock has a market cap of $250.43 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating 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 the consensus estimate of $49.05 billion. During the same quarter in the previous year, the business earned $2.93 EPS. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business 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. This represents a $6.84 annualized dividend and a yield of 4.77%. The ex-dividend date was Monday, May 19th. Chevron’s payout ratio 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.