Chevron Corporation (NYSE:CVX) Position Reduced by Brandywine Oak Private Wealth LLC

Brandywine Oak Private Wealth LLC cut its position in shares of Chevron Corporation (NYSE:CVX) by 5.1% in the first quarter, Holdings Channel.com reports. The institutional investor owned 7,247 shares of the oil and gas company’s stock after selling 390 shares during the period. Brandywine Oak Private Wealth LLC’s holdings in Chevron were worth $1,212,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Life Planning Partners Inc purchased a new stake in Chevron during the fourth quarter valued at about $25,000. 10Elms LLP acquired a new position in shares of Chevron in the 4th quarter valued at about $29,000. Navigoe LLC acquired a new position in shares of Chevron in the 4th quarter valued at about $33,000. IFS Advisors LLC increased its holdings in shares of Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 116 shares during the period. Finally, Cloud Capital Management LLC acquired a new position in shares of Chevron in the 1st quarter valued at about $39,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Chevron stock opened at $154.84 on Friday. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The firm has a market capitalization of $270.40 billion, a P/E ratio of 17.70, a P/E/G ratio of 2.46 and a beta of 0.83. 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 stock has a fifty day moving average price of $145.12 and a two-hundred day moving average price of $148.83.

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

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.42%. Chevron’s payout ratio is 78.17%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CVX shares. Hsbc Global Res downgraded Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a report on Friday, July 18th. Wells Fargo & Company increased their price target on Chevron from $165.00 to $178.00 and gave the company an “overweight” rating in a report on Wednesday. UBS Group reduced their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Finally, Redburn Atlantic reissued a “sell” rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $162.13.

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.