Chevron Co. (NYSE:CVX) Shares Sold by Kingstone Capital Partners Texas LLC

Kingstone Capital Partners Texas LLC decreased its position in Chevron Co. (NYSE:CVX) by 12.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,835 shares of the oil and gas company’s stock after selling 1,802 shares during the period. Chevron makes up approximately 1.7% of Kingstone Capital Partners Texas LLC’s holdings, making the stock its 22nd biggest position. Kingstone Capital Partners Texas LLC’s holdings in Chevron were worth $2,147,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CVX. Simplicity Wealth LLC increased its holdings in shares of Chevron by 180.0% in the first quarter. Simplicity Wealth LLC now owns 17,162 shares of the oil and gas company’s stock valued at $2,871,000 after buying an additional 11,032 shares in the last quarter. GAMMA Investing LLC increased its stake in Chevron by 27.3% in the 1st quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock valued at $5,408,000 after buying an additional 6,928 shares during the period. First National Bank Sioux Falls raised its holdings in shares of Chevron by 11.4% during the first quarter. First National Bank Sioux Falls now owns 4,836 shares of the oil and gas company’s stock worth $809,000 after acquiring an additional 495 shares in the last quarter. Wealthcare Advisory Partners LLC raised its stake in shares of Chevron by 6.2% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 28,303 shares of the oil and gas company’s stock worth $4,735,000 after purchasing an additional 1,644 shares in the last quarter. Finally, Requisite Capital Management LLC grew its position in Chevron by 1.2% in the first quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company’s stock worth $1,064,000 after acquiring an additional 77 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CVX shares. Hsbc Global Res lowered Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Piper Sandler decreased their price target on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Barclays downgraded Chevron from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. UBS Group dropped their price target on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. Finally, Wells Fargo & Company lowered their target price on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron has an average rating of “Hold” and a consensus target price of $160.24.

Chevron Price Performance

Chevron stock opened at $140.76 on Tuesday. The stock’s 50 day moving average is $138.46 and its 200-day moving average is $149.50. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a market capitalization of $245.82 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.46 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results 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 return on equity of 11.44% and a net margin of 8.71%. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period last year, the firm posted $2.93 earnings per share. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.86%. The ex-dividend date is Monday, May 19th. Chevron’s dividend payout ratio (DPR) is 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.