STAR Financial Bank Cuts Stock Holdings in Chevron Corporation (NYSE:CVX)

STAR Financial Bank decreased its position in shares of Chevron Corporation (NYSE:CVX) by 11.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,423 shares of the oil and gas company’s stock after selling 434 shares during the quarter. STAR Financial Bank’s holdings in Chevron were worth $573,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. CoreCap Advisors LLC increased its position in Chevron by 0.3% in the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company’s stock worth $4,091,000 after buying an additional 71 shares during the period. Clayton Financial Group LLC increased its position in Chevron by 4.6% in the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company’s stock worth $285,000 after buying an additional 75 shares during the period. Requisite Capital Management LLC increased its position in Chevron by 1.2% in the 1st quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company’s stock worth $1,064,000 after buying an additional 77 shares during the period. Silverlake Wealth Management LLC raised its stake in shares of Chevron by 0.7% in the first quarter. Silverlake Wealth Management LLC now owns 10,929 shares of the oil and gas company’s stock valued at $1,828,000 after purchasing an additional 78 shares in the last quarter. Finally, Annandale Capital LLC raised its stake in shares of Chevron by 5.7% in the fourth quarter. Annandale Capital LLC now owns 1,471 shares of the oil and gas company’s stock valued at $213,000 after purchasing an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

CVX opened at $149.79 on Friday. The firm has a market capitalization of $261.59 billion, a PE ratio of 17.12, a PEG ratio of 2.48 and a beta of 0.83. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The firm’s 50-day moving average price is $144.04 and its 200 day moving average price is $148.64. 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 (NYSE:CVX) last released its quarterly 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 business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the previous year, the firm earned $2.93 EPS. The business’s revenue was down 2.3% on a year-over-year basis. As a group, sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 4.57%. Chevron’s dividend payout ratio is presently 78.17%.

Wall Street Analyst Weigh In

CVX has been the topic of a number of analyst reports. Barclays reiterated an “equal weight” rating on shares of Chevron in a research report on Tuesday. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research report on Friday. Scotiabank reiterated a “sector perform” rating and issued a $160.00 price target (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. HSBC cut Chevron from a “buy” rating to a “hold” rating and lowered their price target for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Finally, UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Chevron has an average rating of “Hold” and an average target price of $161.31.

About Chevron

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.