Merrion Investment Management Co LLC Sells 210 Shares of Chevron Corporation (NYSE:CVX)

Merrion Investment Management Co LLC cut its stake in shares of Chevron Corporation (NYSE:CVX) by 3.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,361 shares of the oil and gas company’s stock after selling 210 shares during the quarter. Merrion Investment Management Co LLC’s holdings in Chevron were worth $897,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CVX. Sage Capital Advisors llc lifted its holdings in Chevron by 2.2% in the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock valued at $7,097,000 after buying an additional 919 shares during the period. Pines Wealth Management LLC lifted its stake in shares of Chevron by 3.3% in the 1st quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company’s stock valued at $1,306,000 after purchasing an additional 253 shares during the period. Viking Fund Management LLC lifted its stake 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 purchasing an additional 10,000 shares during the period. Allianz SE bought a new stake in shares of Chevron during the 4th quarter valued at about $9,369,000. Finally, Nicholas Company Inc. grew 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 purchasing an additional 3,280 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $148.18 on Friday. The firm has a market capitalization of $258.78 billion, a P/E ratio of 16.93, a P/E/G ratio of 2.60 and a beta of 0.83. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a 50 day moving average price of $139.09 and a two-hundred day moving average price of $148.81. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. The company 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%. Chevron’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.93 earnings per share. Equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.62%. Chevron’s dividend payout ratio is currently 78.17%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. UBS Group cut their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Mizuho dropped their target price 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. BNP Paribas cut shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Barclays lowered shares of Chevron from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Finally, Redburn Atlantic reissued a “sell” rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Three research 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. Based on data from MarketBeat.com, the company has an average 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.