Mayfair Advisory Group LLC Reduces Holdings in Chevron Corporation (NYSE:CVX)

Mayfair Advisory Group LLC decreased its holdings in Chevron Corporation (NYSE:CVX) by 4.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,316 shares of the oil and gas company’s stock after selling 349 shares during the quarter. Chevron makes up 0.8% of Mayfair Advisory Group LLC’s portfolio, making the stock its 25th biggest position. Mayfair Advisory Group LLC’s holdings in Chevron were worth $1,391,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. IMG Wealth Management Inc. bought a new position in Chevron during the fourth quarter worth $25,000. Life Planning Partners Inc bought a new stake in Chevron in the 4th quarter valued at about $25,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Chevron during the fourth quarter worth approximately $29,000. 10Elms LLP acquired a new position in Chevron during the 4th quarter worth $29,000. Finally, Fairway Wealth LLC lifted its holdings 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 purchasing an additional 88 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CVX. Mizuho cut their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Hsbc Global Res downgraded Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. HSBC cut Chevron from a “buy” rating to a “hold” rating and decreased their target price for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. BNP Paribas cut Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company decreased their price target on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chevron presently has a consensus rating of “Hold” and a consensus price target of $160.24.

Chevron Stock Performance

NYSE CVX opened at $148.86 on Wednesday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The company’s 50-day simple moving average is $138.78 and its 200 day simple moving average is $148.91. The stock has a market cap of $259.97 billion, a P/E ratio of 17.01, a PEG ratio of 2.56 and a beta of 0.83.

Chevron (NYSE:CVX) last announced 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 firm had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business’s revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.93 earnings per share. As a group, research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio is currently 78.17%.

Chevron 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.