Fagan Associates Inc. Has $11.58 Million Stake in Chevron Corporation (NYSE:CVX)

Fagan Associates Inc. trimmed its stake in shares of Chevron Corporation (NYSE:CVX) by 0.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,229 shares of the oil and gas company’s stock after selling 340 shares during the period. Chevron comprises about 1.9% of Fagan Associates Inc.’s portfolio, making the stock its 15th largest position. Fagan Associates Inc.’s holdings in Chevron were worth $11,581,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. Sage Capital Advisors llc increased its stake in shares of Chevron by 2.2% during the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock worth $7,097,000 after purchasing an additional 919 shares during the last quarter. CCG Wealth Management LLC grew its stake 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 buying an additional 145 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings 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 buying an additional 675 shares in the last quarter. Pines Wealth Management LLC grew its holdings 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 buying an additional 253 shares in the last quarter. Finally, Viking Fund Management LLC grew its holdings 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 buying an additional 10,000 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on CVX shares. Mizuho decreased their target price on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. BNP Paribas lowered shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. TD Cowen cut 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. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a report on Tuesday, May 6th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a report on Friday. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $161.31.

Chevron Stock Down 0.4%

Shares of CVX stock traded down $0.63 on Monday, reaching $149.41. 2,368,368 shares of the company were exchanged, compared to its average volume of 8,528,120. The company has a market cap of $260.92 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 2.48 and a beta of 0.83. The company has a 50-day moving average of $144.04 and a 200-day moving average of $148.68. 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 one year low of $132.04 and a one year high of $168.96.

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

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.58%. Chevron’s dividend payout ratio (DPR) is 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.