Mosaic Family Wealth Partners LLC Reduces Stake in Chevron Co. (NYSE:CVX)

Mosaic Family Wealth Partners LLC lowered its holdings in Chevron Co. (NYSE:CVX) by 7.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,599 shares of the oil and gas company’s stock after selling 355 shares during the quarter. Mosaic Family Wealth Partners LLC’s holdings in Chevron were worth $666,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. RB Capital Management LLC increased its holdings in shares of Chevron by 2.9% in the 4th quarter. RB Capital Management LLC now owns 29,334 shares of the oil and gas company’s stock valued at $4,249,000 after acquiring an additional 827 shares during the last quarter. Pinkerton Retirement Specialists LLC grew its stake in Chevron by 3.4% during the 4th quarter. Pinkerton Retirement Specialists LLC now owns 29,091 shares of the oil and gas company’s stock worth $4,214,000 after buying an additional 962 shares during the last quarter. 49 Wealth Management LLC grew its stake in Chevron by 9.9% during the 4th quarter. 49 Wealth Management LLC now owns 4,457 shares of the oil and gas company’s stock worth $646,000 after buying an additional 403 shares during the last quarter. Orion Capital Management LLC purchased a new position in Chevron during the 4th quarter worth approximately $61,000. Finally, McIlrath & Eck LLC grew its stake in Chevron by 39.5% during the 4th quarter. McIlrath & Eck LLC now owns 2,001 shares of the oil and gas company’s stock worth $290,000 after buying an additional 567 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 1.2%

Chevron stock opened at $135.57 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a market cap of $236.75 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The stock’s 50 day moving average price is $145.61 and its 200 day moving average price is $151.50.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the previous year, the business earned $2.93 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, sell-side analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.05%. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research reports. Barclays downgraded Chevron from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Truist Financial dropped their price target on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. BNP Paribas downgraded Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Finally, Piper Sandler dropped their price target on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chevron currently has a consensus rating of “Hold” and a consensus target price of $160.24.

Chevron Company 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.