Chevron Corporation (NYSE:CVX) Holdings Decreased by C2C Wealth Management LLC

C2C Wealth Management LLC reduced its holdings in shares of Chevron Corporation (NYSE:CVX) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,247 shares of the oil and gas company’s stock after selling 502 shares during the period. Chevron accounts for about 6.2% of C2C Wealth Management LLC’s investment portfolio, making the stock its 3rd largest holding. C2C Wealth Management LLC’s holdings in Chevron were worth $6,566,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Norges Bank bought a new stake in Chevron during the 4th quarter valued at about $3,017,750,000. Raymond James Financial Inc. purchased a new position in Chevron in the 4th quarter worth approximately $1,036,302,000. GAMMA Investing LLC lifted its position in Chevron by 21,191.5% in the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock valued at $904,746,000 after acquiring an additional 5,382,847 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Chevron by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock valued at $2,389,380,000 after acquiring an additional 2,432,756 shares in the last quarter. Finally, Amundi boosted its stake in Chevron by 27.7% during the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock valued at $1,323,549,000 after purchasing an additional 1,910,262 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Down 1.8%

NYSE:CVX opened at $146.92 on Tuesday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The business has a fifty day moving average price of $139.60 and a 200-day moving average price of $148.52. The firm has a market capitalization of $256.58 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 2.63 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.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter in the prior year, the business posted $2.93 earnings per share. The business’s quarterly revenue was down 2.3% on a year-over-year basis. Sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date was Monday, May 19th. Chevron’s payout ratio is 78.17%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CVX shares. UBS Group decreased their price target on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. BNP Paribas cut shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. TD Cowen dropped their price target 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. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Finally, DZ Bank cut shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective for the company. in a report on Tuesday, May 6th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $160.24.

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.