Cypress Capital Management LLC WY Boosts Stake in Chevron Corporation (NYSE:CVX)

Cypress Capital Management LLC WY lifted its position in shares of Chevron Corporation (NYSE:CVX) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,946 shares of the oil and gas company’s stock after acquiring an additional 172 shares during the quarter. Chevron accounts for approximately 2.0% of Cypress Capital Management LLC WY’s investment portfolio, making the stock its 13th biggest holding. Cypress Capital Management LLC WY’s holdings in Chevron were worth $1,664,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. CoreCap Advisors LLC grew its holdings in Chevron by 0.3% during the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company’s stock valued at $4,091,000 after buying an additional 71 shares in the last quarter. Clayton Financial Group LLC grew its holdings in Chevron by 4.6% during the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company’s stock valued at $285,000 after buying an additional 75 shares in the last quarter. Requisite Capital Management LLC grew its holdings in Chevron by 1.2% during the 1st quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company’s stock valued at $1,064,000 after buying an additional 77 shares in the last quarter. Silverlake Wealth Management LLC grew its holdings in Chevron by 0.7% during the 1st quarter. Silverlake Wealth Management LLC now owns 10,929 shares of the oil and gas company’s stock valued at $1,828,000 after buying an additional 78 shares in the last quarter. Finally, Annandale Capital LLC grew its holdings in Chevron by 5.7% during the 4th quarter. Annandale Capital LLC now owns 1,471 shares of the oil and gas company’s stock valued at $213,000 after buying an additional 79 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Down 1.1%

NYSE CVX opened at $149.79 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The stock’s 50-day moving average price is $144.04 and its 200-day moving average price is $148.64. The company has a market capitalization of $261.59 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 2.48 and a beta of 0.83.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter in the previous year, the business earned $2.93 EPS. The company’s quarterly revenue was down 2.3% on a year-over-year basis. On average, equities research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.57%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio is currently 78.17%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Mizuho cut their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. HSBC downgraded Chevron from a “buy” rating to a “hold” rating and dropped their target price for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Hsbc Global Res downgraded Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Scotiabank reiterated a “sector perform” rating and issued a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Finally, BNP Paribas downgraded Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.