Chevron Corporation $CVX Stock Position Lowered by Quadcap Wealth Management LLC

Quadcap Wealth Management LLC cut its stake in shares of Chevron Corporation (NYSE:CVX) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,785 shares of the oil and gas company’s stock after selling 436 shares during the quarter. Quadcap Wealth Management LLC’s holdings in Chevron were worth $3,143,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CVX. Harvest Fund Management Co. Ltd boosted its stake in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 122 shares in the last quarter. 10Elms LLP purchased a new stake in shares of Chevron in the fourth quarter valued at $29,000. Elequin Capital LP purchased a new stake in shares of Chevron in the first quarter valued at $31,000. Navigoe LLC purchased a new stake in shares of Chevron in the fourth quarter valued at $33,000. Finally, IFS Advisors LLC lifted its holdings in shares of Chevron by 119.6% in the first 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. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

CVX has been the subject of a number of research analyst reports. Melius Research started coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price for the company. Morgan Stanley began coverage on Chevron in a report on Monday, August 4th. They set an “overweight” rating and a $174.00 target price on the stock. TD Cowen raised their target price on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Finally, Melius began coverage on Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target on the stock. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $163.95.

Chevron Stock Down 0.0%

CVX stock opened at $158.12 on Tuesday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a market cap of $273.23 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 2.35 and a beta of 0.87. The business’s 50-day simple moving average is $151.45 and its 200 day simple moving average is $148.64. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same period last year, the business earned $2.55 earnings per share. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. On average, research analysts anticipate 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 will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. Chevron’s dividend payout ratio (DPR) is 88.03%.

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.