McGinn Penninger Investment Management Inc. Has $4.81 Million Holdings in Chevron Corporation (NYSE:CVX)

McGinn Penninger Investment Management Inc. trimmed its position in Chevron Corporation (NYSE:CVX) by 0.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,728 shares of the oil and gas company’s stock after selling 180 shares during the quarter. Chevron comprises approximately 3.1% of McGinn Penninger Investment Management Inc.’s holdings, making the stock its 14th largest position. McGinn Penninger Investment Management Inc.’s holdings in Chevron were worth $4,806,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. IMG Wealth Management Inc. acquired a new position in shares of Chevron in the 4th quarter worth approximately $25,000. Life Planning Partners Inc bought a new position in shares of Chevron in the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron during the 4th quarter worth $29,000. 10Elms LLP bought a new stake in Chevron during the 4th quarter worth about $29,000. Finally, Fairway Wealth LLC grew its position in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after buying an additional 88 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CVX shares. UBS Group cut their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Wells Fargo & Company reiterated an “overweight” rating and set a $165.00 target price (up from $164.00) on shares of Chevron in a research note on Thursday, June 26th. Barclays cut Chevron from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and lowered their price target for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Finally, BNP Paribas downgraded Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chevron presently has an average rating of “Hold” and a consensus target price of $160.29.

Chevron Stock Up 1.6%

Shares of Chevron stock opened at $145.46 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The company has a market cap of $254.03 billion, a P/E ratio of 16.62, a PEG ratio of 2.51 and a beta of 0.83. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The firm’s 50 day moving average price is $140.56 and its 200-day moving average price is $148.08.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 7.76% and a return on equity of 10.73%. The business’s revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the company earned $2.93 EPS. On average, sell-side analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is 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.