Financial Partners Group Inc Trims Stock Position in Chevron Corporation (NYSE:CVX)

Financial Partners Group Inc lessened its position in shares of Chevron Corporation (NYSE:CVX) by 9.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,835 shares of the oil and gas company’s stock after selling 609 shares during the quarter. Financial Partners Group Inc’s holdings in Chevron were worth $976,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Sage Capital Advisors llc increased its position in shares of Chevron by 2.2% during the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock worth $7,097,000 after acquiring an additional 919 shares during the period. CCG Wealth Management LLC increased its position in shares of Chevron by 2.3% during the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock worth $1,060,000 after acquiring an additional 145 shares during the period. Vista Capital Partners Inc. increased its position in shares of Chevron by 9.1% during the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock worth $993,000 after acquiring an additional 495 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Chevron by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock worth $24,075,000 after acquiring an additional 675 shares during the period. Finally, Pines Wealth Management LLC grew its stake in shares of Chevron by 3.3% during the first quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company’s stock worth $1,306,000 after purchasing an additional 253 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CVX. Barclays reiterated an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Scotiabank reiterated a “sector perform” rating and set a $160.00 target price (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. TD Cowen decreased their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, May 5th. Piper Sandler reiterated an “overweight” rating on shares of Chevron in a research note on Tuesday, July 15th. Finally, UBS Group decreased their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $161.31.

Chevron Price Performance

Chevron stock traded down $0.54 during mid-day trading on Tuesday, reaching $149.14. The company had a trading volume of 5,852,846 shares, compared to its average volume of 8,577,949. 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. The company has a market capitalization of $260.45 billion, a P/E ratio of 17.05, a P/E/G ratio of 2.48 and a beta of 0.83. The stock’s 50-day simple moving average is $144.04 and its 200-day simple moving average is $148.68.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $49.05 billion. During the same period last year, the company posted $2.93 earnings per share. The firm’s quarterly 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 year.

Chevron Announces Dividend

The company 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. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.59%. Chevron’s dividend payout ratio (DPR) 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.