Capital & Planning LLC Lowers Holdings in Chevron Corporation (NYSE:CVX)

Capital & Planning LLC trimmed its position in Chevron Corporation (NYSE:CVX) by 10.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,499 shares of the oil and gas company’s stock after selling 179 shares during the period. Capital & Planning LLC’s holdings in Chevron were worth $251,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. IMG Wealth Management Inc. acquired a new stake in Chevron in the fourth quarter valued at $25,000. Life Planning Partners Inc acquired a new stake in Chevron in the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron in the fourth quarter valued at $29,000. 10Elms LLP acquired a new stake in Chevron in the fourth quarter valued at $29,000. Finally, Fairway Wealth LLC lifted its holdings in Chevron by 75.9% in the fourth 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. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 0.2%

NYSE CVX opened at $148.23 on Friday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a 50-day moving average of $141.16 and a 200-day moving average of $148.10. 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 cap of $258.86 billion, a P/E ratio of 16.94, a P/E/G ratio of 2.51 and a beta of 0.83.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 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 the consensus estimate of $49.05 billion. During the same quarter in the prior year, the company posted $2.93 EPS. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date was Monday, May 19th. Chevron’s payout ratio is currently 78.17%.

Wall Street Analyst Weigh In

Several research firms recently commented on CVX. TD Cowen decreased their price objective on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Barclays lowered shares of Chevron from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Piper Sandler boosted their price objective on shares of Chevron from $162.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Finally, UBS Group decreased their price objective on shares of 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, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $160.41.

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.