FWG Holdings LLC Decreases Stock Holdings in Chevron Corporation (NYSE:CVX)

FWG Holdings LLC decreased its holdings in Chevron Corporation (NYSE:CVX) by 27.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,746 shares of the oil and gas company’s stock after selling 1,404 shares during the quarter. FWG Holdings LLC’s holdings in Chevron were worth $627,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Sage Capital Advisors llc raised its position in Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock worth $7,097,000 after buying an additional 919 shares during the last quarter. CCG Wealth Management LLC grew its stake in shares of Chevron by 2.3% during the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock valued at $1,060,000 after purchasing an additional 145 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Chevron by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock valued at $24,075,000 after purchasing an additional 675 shares during the last quarter. Pines Wealth Management LLC increased its position in shares of Chevron by 3.3% during the 1st quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company’s stock valued at $1,306,000 after purchasing an additional 253 shares during the last quarter. Finally, Viking Fund Management LLC increased its position in shares of Chevron by 9.3% during the 1st quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company’s stock valued at $19,573,000 after purchasing an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.6%

Shares of CVX opened at $150.71 on Wednesday. The stock has a market capitalization of $263.20 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 2.57 and a beta of 0.83. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The business’s 50 day simple moving average is $143.24 and its 200-day simple moving average is $148.54. 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 data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. The business 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 company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.93 EPS. As a group, equities analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.54%. Chevron’s dividend payout ratio is presently 78.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CVX shares. Wells Fargo & Company reaffirmed an “overweight” rating and set a $165.00 price target (up previously from $164.00) on shares of Chevron in a research report on Thursday, June 26th. UBS Group reduced 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. Barclays reaffirmed an “equal weight” rating on shares of Chevron in a research report on Tuesday. Mizuho cut their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Finally, Scotiabank reiterated a “sector perform” rating and set a $160.00 price objective (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $161.65.

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.