Chevron Corporation (NYSE:CVX) Shares Sold by O Brien Wealth Partners LLC

O Brien Wealth Partners LLC lowered its holdings in shares of Chevron Corporation (NYSE:CVX) by 9.6% in the first quarter, HoldingsChannel.com reports. The fund owned 784 shares of the oil and gas company’s stock after selling 83 shares during the quarter. O Brien Wealth Partners LLC’s holdings in Chevron were worth $131,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Berkeley Capital Partners LLC increased its stake in Chevron by 0.4% during the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock worth $2,572,000 after acquiring an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in shares of Chevron by 6.1% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company’s stock valued at $171,000 after purchasing an additional 68 shares in the last quarter. CoreCap Advisors LLC grew its holdings in shares of Chevron by 0.3% during the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company’s stock worth $4,091,000 after purchasing an additional 71 shares during the period. Fairscale Capital LLC increased its position in Chevron by 11.5% during the 4th quarter. Fairscale Capital LLC now owns 706 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 73 shares in the last quarter. Finally, Austin Wealth Management LLC raised its holdings in Chevron by 3.2% in the fourth quarter. Austin Wealth Management LLC now owns 2,364 shares of the oil and gas company’s stock valued at $342,000 after buying an additional 74 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CVX shares. Piper Sandler lifted their price target on shares of Chevron from $162.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday. Redburn Atlantic reissued a “sell” rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. UBS Group decreased their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Hsbc Global Res downgraded Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Finally, TD Cowen reduced their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Chevron currently has an average rating of “Hold” and a consensus price target of $160.41.

Chevron Trading Up 1.6%

Shares of CVX opened at $147.91 on Thursday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The stock has a 50-day moving average price of $140.78 and a 200 day moving average price of $148.08. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The company has a market capitalization of $258.31 billion, a P/E ratio of 16.90, a P/E/G ratio of 2.48 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 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion during 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 was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.93 EPS. Sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.62%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio 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.