Chevron Co. (NYSE:CVX) Shares Bought by Tritonpoint Wealth LLC

Tritonpoint Wealth LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 3.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,226 shares of the oil and gas company’s stock after purchasing an additional 1,877 shares during the period. Tritonpoint Wealth LLC’s holdings in Chevron were worth $8,570,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CVX. Life Planning Partners Inc acquired a new stake in shares of Chevron during the fourth quarter valued at approximately $25,000. IMG Wealth Management Inc. acquired a new stake in shares of Chevron during the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron during the fourth quarter valued at approximately $29,000. 10Elms LLP acquired a new stake in shares of Chevron during the fourth quarter valued at approximately $29,000. Finally, Fairway Wealth LLC raised its holdings in shares of Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 88 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Piper Sandler dropped their price objective on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Mizuho dropped their price objective on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. UBS Group dropped their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. BNP Paribas lowered shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Finally, HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and dropped their price objective for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. 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. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Hold” and an average target price of $160.24.

Chevron Stock Performance

NYSE:CVX opened at $145.74 on Friday. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The firm’s fifty day simple moving average is $138.53 and its 200 day simple moving average is $149.20. 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 firm has a market capitalization of $254.52 billion, a PE ratio of 14.99, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. 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 firm earned $2.93 EPS. The business’s revenue was down 2.3% on a year-over-year basis. On average, sell-side analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 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.