Birch Hill Investment Advisors LLC Lowers Stock Position in Chevron Co. (NYSE:CVX)

Birch Hill Investment Advisors LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 7.7% during the first quarter, Holdings Channel.com reports. The firm owned 14,027 shares of the oil and gas company’s stock after selling 1,175 shares during the quarter. Birch Hill Investment Advisors LLC’s holdings in Chevron were worth $2,347,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of CVX. Sage Capital Advisors llc lifted its holdings in Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock valued at $7,097,000 after purchasing an additional 919 shares in the last quarter. Pines Wealth Management LLC increased its stake in shares of Chevron by 3.3% in the first quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company’s stock worth $1,306,000 after buying an additional 253 shares during the last quarter. Viking Fund Management LLC increased its holdings in shares of Chevron by 9.3% in the 1st quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company’s stock valued at $19,573,000 after acquiring an additional 10,000 shares during the last quarter. Allianz SE bought a new stake in Chevron during the fourth quarter valued at $9,369,000. Finally, Nicholas Company Inc. raised its stake 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 acquiring an additional 3,280 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 0.1%

NYSE CVX opened at $146.07 on Tuesday. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market cap of $255.09 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.46 and a beta of 0.83. The firm’s 50 day moving average price is $138.72 and its two-hundred day moving average price is $148.91.

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. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. Chevron’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.93 earnings per share. Equities analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.68%. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Piper Sandler decreased their target price on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and cut their price objective for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. TD Cowen lowered their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Finally, DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective on the stock. in a research note on Tuesday, May 6th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $160.24.

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.