Chevron Corporation (NYSE:CVX) Shares Sold by Pineridge Advisors LLC

Pineridge Advisors LLC cut its stake in Chevron Corporation (NYSE:CVX) by 74.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 324 shares of the oil and gas company’s stock after selling 929 shares during the period. Pineridge Advisors LLC’s holdings in Chevron were worth $54,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CVX. IMG Wealth Management Inc. purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $25,000. Life Planning Partners Inc acquired a new stake in shares of Chevron during the fourth quarter worth approximately $25,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron during the fourth quarter worth approximately $29,000. 10Elms LLP acquired a new stake in shares of Chevron during the fourth quarter worth approximately $29,000. Finally, Navigoe LLC acquired a new stake in shares of Chevron during the fourth quarter worth approximately $33,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on CVX shares. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $165.00 price objective (up previously from $164.00) on shares of Chevron in a report on Thursday, June 26th. Hsbc Global Res downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. TD Cowen reduced their price target on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. Barclays boosted their price target on shares of Chevron from $152.00 to $156.00 and gave the company an “equal weight” rating in a report on Monday. Finally, BNP Paribas downgraded shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $160.65.

Chevron Price Performance

Shares of CVX stock opened at $153.24 on Thursday. The stock’s fifty day moving average is $141.92 and its 200-day moving average is $148.25. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The stock has a market capitalization of $267.62 billion, a PE ratio of 17.51, a PEG ratio of 2.64 and a beta of 0.83. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

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

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.46%. 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.