IAG Wealth Partners LLC Sells 233 Shares of Chevron Co. (NYSE:CVX)

IAG Wealth Partners LLC reduced its position in Chevron Co. (NYSE:CVX) by 14.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,410 shares of the oil and gas company’s stock after selling 233 shares during the period. IAG Wealth Partners LLC’s holdings in Chevron were worth $236,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. W.H. Cornerstone Investments Inc. boosted its holdings in shares of Chevron by 1.4% in the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock valued at $677,000 after buying an additional 66 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Chevron by 0.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock valued at $2,207,000 after buying an additional 66 shares in the last quarter. Berkeley Capital Partners LLC boosted its holdings in shares of Chevron by 0.4% in the 4th quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock valued at $2,572,000 after buying an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings 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 buying an additional 68 shares in the last quarter. Finally, Acorn Wealth Advisors LLC boosted its holdings in shares of Chevron by 3.4% in the 4th quarter. Acorn Wealth Advisors LLC now owns 2,092 shares of the oil and gas company’s stock valued at $303,000 after buying an additional 69 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Shares of NYSE CVX opened at $145.74 on Friday. 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 Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a 50 day simple moving average of $138.53 and a two-hundred day simple moving average of $149.20. The stock has a market cap of $254.52 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. During the same period in the previous year, the business posted $2.93 EPS. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio is currently 78.17%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CVX shares. TD Cowen lowered their price target on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, May 5th. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and dropped their target price for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a research report on Tuesday, May 6th. UBS Group dropped their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Finally, Barclays downgraded shares of Chevron from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $160.24.

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.