Brick & Kyle Associates Sells 459 Shares of Chevron Corporation (NYSE:CVX)

Brick & Kyle Associates decreased its position in Chevron Corporation (NYSE:CVX) by 2.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,948 shares of the oil and gas company’s stock after selling 459 shares during the quarter. Chevron makes up 1.6% of Brick & Kyle Associates’ investment portfolio, making the stock its 27th largest position. Brick & Kyle Associates’ holdings in Chevron were worth $3,487,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IMG Wealth Management Inc. bought a new position in Chevron during the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron during the 4th quarter worth about $29,000. 10Elms LLP purchased a new stake in Chevron in the 4th quarter valued at about $29,000. Fairway Wealth LLC boosted its position in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 88 shares during the period. Finally, IFS Advisors LLC raised its holdings in shares of Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. BNP Paribas lowered shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. 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 note on Wednesday, July 2nd. UBS Group reduced their price objective 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. DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective for the company. in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $165.00 price target (up previously from $164.00) on shares of Chevron in a research note on Thursday, June 26th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $160.65.

Chevron Trading Up 3.8%

Shares of CVX opened at $153.04 on Wednesday. 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 business’s 50-day moving average price is $141.58 and its 200 day moving average price is $148.22. The stock has a market capitalization of $267.27 billion, a P/E ratio of 17.49, a P/E/G ratio of 2.50 and a beta of 0.83.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.93 EPS. Analysts expect that Chevron Corporation will post 10.79 earnings per share for the current 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 issued a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.47%. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

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.