Gradient Capital Advisors LLC Has $1.65 Million Stock Holdings in Chevron Corporation (NYSE:CVX)

Gradient Capital Advisors LLC cut its stake in Chevron Corporation (NYSE:CVX) by 7.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,888 shares of the oil and gas company’s stock after selling 838 shares during the quarter. Gradient Capital Advisors LLC’s holdings in Chevron were worth $1,654,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Eagle Capital Management LLC boosted its holdings in Chevron by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock valued at $5,011,000 after acquiring an additional 242 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in Chevron by 7.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock valued at $5,212,000 after acquiring an additional 2,641 shares during the period. Proficio Capital Partners LLC boosted its holdings in Chevron by 59.5% during the fourth quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company’s stock valued at $847,000 after acquiring an additional 2,182 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Chevron by 64.4% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,692 shares of the oil and gas company’s stock valued at $821,000 after acquiring an additional 2,230 shares during the period. Finally, Royal London Asset Management Ltd. boosted its holdings in Chevron by 2.7% during the fourth quarter. Royal London Asset Management Ltd. now owns 867,609 shares of the oil and gas company’s stock valued at $125,664,000 after acquiring an additional 22,525 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of NYSE CVX opened at $151.30 on Friday. The firm has a market cap of $264.22 billion, a PE ratio of 17.29, a PEG ratio of 2.45 and a beta of 0.83. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a fifty day moving average price of $143.81 and a 200 day moving average price of $148.61.

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, topping analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.93 EPS. Research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.52%. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CVX shares. Redburn Atlantic reiterated a “sell” rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. 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 research note on Monday, May 5th. UBS Group cut their price target 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. Scotiabank restated a “sector perform” rating and set a $160.00 price target (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Chevron in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Chevron currently has an average rating of “Hold” and an average price target of $161.31.

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.