Chevron Corporation (NYSE:CVX) is Stack Financial Management Inc’s 5th Largest Position

Stack Financial Management Inc lowered its holdings in Chevron Corporation (NYSE:CVX) by 1.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 278,337 shares of the oil and gas company’s stock after selling 4,266 shares during the period. Chevron comprises 3.9% of Stack Financial Management Inc’s portfolio, making the stock its 5th largest position. Stack Financial Management Inc’s holdings in Chevron were worth $46,563,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sage Capital Advisors llc increased its position in Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock valued at $7,097,000 after acquiring an additional 919 shares during the period. CCG Wealth Management LLC increased its position in Chevron by 2.3% in the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock valued at $1,060,000 after acquiring an additional 145 shares during the period. Oregon Public Employees Retirement Fund increased its position in Chevron by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock valued at $24,075,000 after acquiring an additional 675 shares during the period. Pines Wealth Management LLC increased its position in 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 acquiring an additional 253 shares during the period. Finally, Viking Fund Management LLC increased its position in 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 acquiring an additional 10,000 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the topic of several analyst reports. Hsbc Global Res cut Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. BNP Paribas cut Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Barclays lifted their price target on Chevron from $152.00 to $156.00 and gave the company an “equal weight” rating in a research report on Monday, July 7th. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target on the stock. in a research report on Tuesday, May 6th. Finally, Mizuho lowered their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Hold” and a consensus target price of $161.65.

Chevron Trading Down 2.3%

Shares of NYSE:CVX opened at $151.80 on Tuesday. The business’s 50 day simple moving average is $142.95 and its 200 day simple moving average is $148.52. The company has a market capitalization of $265.10 billion, a P/E ratio of 17.35, a P/E/G ratio of 2.63 and a beta of 0.83. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. 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 (NYSE:CVX) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share 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 the consensus estimate of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. Chevron’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the business posted $2.93 EPS. On average, research analysts anticipate that Chevron Corporation will post 10.79 EPS 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 paid a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.51%. Chevron’s dividend payout ratio is presently 78.17%.

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.