M3 Advisory Group LLC Decreases Holdings in Chevron Corporation (NYSE:CVX)

M3 Advisory Group LLC decreased its holdings in Chevron Corporation (NYSE:CVX) by 5.4% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,431 shares of the oil and gas company’s stock after selling 81 shares during the period. M3 Advisory Group LLC’s holdings in Chevron were worth $239,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. TrueMark Investments LLC raised its position in Chevron by 10.7% in the 1st quarter. TrueMark Investments LLC now owns 27,383 shares of the oil and gas company’s stock worth $4,581,000 after purchasing an additional 2,655 shares during the period. Flagship Harbor Advisors LLC grew its stake in shares of Chevron by 3.6% during the first quarter. Flagship Harbor Advisors LLC now owns 29,963 shares of the oil and gas company’s stock valued at $5,013,000 after buying an additional 1,034 shares during the last quarter. Live Oak Private Wealth LLC increased its holdings in shares of Chevron by 1.6% in the first quarter. Live Oak Private Wealth LLC now owns 67,444 shares of the oil and gas company’s stock worth $11,283,000 after buying an additional 1,065 shares during the period. Jericho Financial LLP increased its holdings in shares of Chevron by 9.9% in the first quarter. Jericho Financial LLP now owns 30,544 shares of the oil and gas company’s stock worth $5,110,000 after buying an additional 2,743 shares during the period. Finally, First Bancorp Inc ME lifted its stake in shares of Chevron by 13.5% in the 1st quarter. First Bancorp Inc ME now owns 2,880 shares of the oil and gas company’s stock valued at $482,000 after acquiring an additional 343 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CVX. Piper Sandler reduced their price target on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Wells Fargo & Company cut their target price on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. UBS Group decreased their target price 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. TD Cowen dropped their price target on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research report 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 target on the stock. in a report 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $160.24.

Chevron Price Performance

CVX opened at $149.36 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The company has a market cap of $260.84 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 2.63 and a beta of 0.83. The stock has a fifty day simple moving average of $139.37 and a two-hundred day simple moving average of $148.58. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. During the same period last year, the company posted $2.93 EPS. Chevron’s revenue was down 2.3% on a year-over-year basis. Research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.58%. Chevron’s 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.