Capstone Wealth Management Group LLC Decreases Stock Position in Chevron Corporation (NYSE:CVX)

Capstone Wealth Management Group LLC trimmed its position in shares of Chevron Corporation (NYSE:CVX) by 23.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,845 shares of the oil and gas company’s stock after selling 1,494 shares during the period. Capstone Wealth Management Group LLC’s holdings in Chevron were worth $811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. IMG Wealth Management Inc. purchased a new stake in shares of Chevron in the fourth quarter worth approximately $25,000. Life Planning Partners Inc purchased a new position in Chevron during the 4th quarter valued at about $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron in the 4th quarter valued at $29,000. 10Elms LLP purchased a new position in Chevron in the fourth quarter valued at about $29,000. Finally, Fairway Wealth LLC grew its position in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after buying an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company restated an “overweight” rating and set a $165.00 price target (up previously from $164.00) on shares of Chevron in a research note on Thursday, June 26th. BNP Paribas lowered Chevron to a “cautious” rating in a research report on Tuesday, April 15th. HSBC lowered Chevron from a “buy” rating to a “hold” rating and decreased their target price for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Redburn Atlantic reaffirmed a “sell” rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Finally, UBS Group lowered their target price on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $160.41.

Chevron Trading Up 1.6%

NYSE CVX opened at $147.91 on Thursday. The firm’s 50-day moving average is $140.78 and its two-hundred day moving average is $148.08. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a market capitalization of $258.31 billion, a P/E ratio of 16.90, a PEG ratio of 2.48 and a beta of 0.83.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. Chevron’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.93 EPS. On average, sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date 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.