Copia Wealth Management Lowers Stock Position in Chevron Co. (NYSE:CVX)

Copia Wealth Management decreased its holdings in Chevron Co. (NYSE:CVX) by 44.2% in the 1st quarter, Holdings Channel reports. The firm owned 538 shares of the oil and gas company’s stock after selling 426 shares during the period. Copia Wealth Management’s holdings in Chevron were worth $90,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. Grove Bank & Trust lifted its position in Chevron by 13.9% during the 1st quarter. Grove Bank & Trust now owns 22,391 shares of the oil and gas company’s stock worth $3,746,000 after acquiring an additional 2,726 shares during the period. Grimes & Company Inc. increased its holdings in shares of Chevron by 3.9% in the first quarter. Grimes & Company Inc. now owns 64,514 shares of the oil and gas company’s stock valued at $10,793,000 after purchasing an additional 2,410 shares during the period. Signature Wealth Management Group raised its stake in shares of Chevron by 0.7% during the first quarter. Signature Wealth Management Group now owns 26,841 shares of the oil and gas company’s stock worth $4,490,000 after purchasing an additional 198 shares during the last quarter. Stockman Wealth Management Inc. lifted its holdings in shares of Chevron by 6.0% during the first quarter. Stockman Wealth Management Inc. now owns 72,145 shares of the oil and gas company’s stock worth $12,069,000 after purchasing an additional 4,081 shares during the period. Finally, QRG Capital Management Inc. grew its position in Chevron by 8.7% in the 1st quarter. QRG Capital Management Inc. now owns 267,326 shares of the oil and gas company’s stock valued at $44,721,000 after buying an additional 21,437 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 0.1%

CVX opened at $146.07 on Tuesday. 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 company 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. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The business’s fifty day moving average is $138.72 and its two-hundred day moving average is $148.91.

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 the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.93 EPS. Analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Analysts Set New Price Targets

A number of brokerages have commented on CVX. Wells Fargo & Company cut their price objective on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Piper Sandler cut their price target on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Barclays downgraded shares of Chevron from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. DZ Bank cut 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. Finally, TD Cowen reduced their price target on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.