Inlet Private Wealth LLC Sells 200 Shares of Chevron Corporation (NYSE:CVX)

Inlet Private Wealth LLC reduced its position in Chevron Corporation (NYSE:CVX) by 1.3% during the first quarter, HoldingsChannel reports. The fund owned 14,948 shares of the oil and gas company’s stock after selling 200 shares during the quarter. Inlet Private Wealth LLC’s holdings in Chevron were worth $2,501,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. 10Elms LLP bought a new stake in Chevron in the 4th quarter valued at about $29,000. IFS Advisors LLC raised its stake in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 116 shares during the period. Navigoe LLC bought a new stake in Chevron in the 4th quarter valued at about $33,000. Cloud Capital Management LLC bought a new stake in Chevron in the 1st quarter valued at about $39,000. Finally, Investment Management Corp VA ADV raised its stake in Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 149 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CVX has been the topic of several analyst reports. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research report on Friday, July 18th. BNP Paribas cut Chevron to a “cautious” rating in a research report on Tuesday, April 15th. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target on the stock. in a research report on Tuesday, May 6th. Redburn Atlantic reiterated a “sell” rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, HSBC cut Chevron from a “buy” rating to a “hold” rating and decreased their price target for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $162.13.

Chevron Stock Down 0.6%

Shares of CVX opened at $154.84 on Monday. The firm has a market cap of $270.40 billion, a P/E ratio of 17.70, a P/E/G ratio of 2.44 and a beta of 0.83. The stock has a 50 day simple moving average of $145.12 and a two-hundred day simple moving average of $148.82. 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 Corporation has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX) last issued its earnings results 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 during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. Chevron’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.93 earnings per share. On average, analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend 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.