Chevron Corporation (NYSE:CVX) Position Reduced by Paragon Capital Management LLC

Paragon Capital Management LLC cut its position in shares of Chevron Corporation (NYSE:CVX) by 5.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,980 shares of the oil and gas company’s stock after selling 474 shares during the quarter. Chevron accounts for 0.8% of Paragon Capital Management LLC’s portfolio, making the stock its 24th largest position. Paragon Capital Management LLC’s holdings in Chevron were worth $1,335,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Life Planning Partners Inc acquired a new position in Chevron during the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron in the fourth quarter worth $29,000. 10Elms LLP acquired a new stake in shares of Chevron in the fourth quarter worth $29,000. Navigoe LLC acquired a new stake in shares of Chevron in the fourth quarter worth $33,000. Finally, IFS Advisors LLC lifted its position in Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 116 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Down 1.1%

Chevron stock traded down $1.59 during trading hours on Friday, hitting $149.79. The stock had a trading volume of 45,762,307 shares, compared to its average volume of 8,540,907. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The stock has a market cap of $261.59 billion, a price-to-earnings ratio of 17.12, a P/E/G ratio of 2.48 and a beta of 0.83. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The business’s 50 day simple moving average is $144.04 and its 200-day simple moving average is $148.64.

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 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 firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period in the previous year, the firm earned $2.93 earnings per share. The company’s revenue was down 2.3% compared to the same quarter last year. On average, equities analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CVX shares. Piper Sandler reissued an “overweight” rating on shares of Chevron in a report on Tuesday. DZ Bank lowered Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective for the company. in a research report on Tuesday, May 6th. 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. Hsbc Global Res cut Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Finally, TD Cowen decreased their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $161.31.

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.