Simmons Bank Sells 2,380 Shares of Chevron Corporation (NYSE:CVX)

Simmons Bank lessened its stake in Chevron Corporation (NYSE:CVX) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 80,754 shares of the oil and gas company’s stock after selling 2,380 shares during the quarter. Chevron makes up approximately 1.0% of Simmons Bank’s portfolio, making the stock its 20th biggest holding. Simmons Bank’s holdings in Chevron were worth $13,509,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CVX. IMG Wealth Management Inc. bought a new stake in shares of Chevron in the 4th quarter worth approximately $25,000. Life Planning Partners Inc bought a new stake in Chevron during the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron during the 4th quarter valued at $29,000. 10Elms LLP bought a new stake in Chevron during the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC raised its holdings in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 88 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the company from $160.00 to $143.00 in a report on Friday, April 11th. TD Cowen lowered their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, May 5th. Hsbc Global Res cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. BNP Paribas cut shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Finally, UBS Group lowered their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $160.41.

Chevron Trading Up 0.2%

Chevron stock opened at $148.23 on Friday. The stock has a market cap of $258.86 billion, a P/E ratio of 16.94, a PEG ratio of 2.51 and a beta of 0.83. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm’s fifty day moving average price is $141.16 and its 200-day moving average price is $148.07. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $49.05 billion. During the same period in the previous year, the business earned $2.93 earnings per share. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. Equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share 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 yield of 4.61%. Chevron’s dividend payout ratio (DPR) is presently 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.