Perigon Wealth Management LLC Sells 10,709 Shares of Chevron Corporation (NYSE:CVX)

Perigon Wealth Management LLC trimmed its stake in Chevron Corporation (NYSE:CVX) by 12.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,978 shares of the oil and gas company’s stock after selling 10,709 shares during the period. Perigon Wealth Management LLC’s holdings in Chevron were worth $12,543,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CVX. IMG Wealth Management Inc. bought a new stake in shares of Chevron in the 4th quarter valued at approximately $25,000. Life Planning Partners Inc bought a new stake in shares of Chevron in the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron in the 4th quarter valued at approximately $29,000. 10Elms LLP bought a new stake in shares of Chevron in the 4th quarter valued at approximately $29,000. Finally, Fairway Wealth LLC lifted its stake 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 acquiring an additional 88 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Piper Sandler decreased their price target on Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. UBS Group decreased their price target on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Wells Fargo & Company decreased their price target on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Finally, Mizuho decreased their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Chevron currently has an average rating of “Hold” and a consensus price target of $160.24.

Chevron Trading Down 0.0%

CVX opened at $143.49 on Thursday. The stock’s fifty day moving average is $139.95 and its two-hundred day moving average is $148.45. The company has a market capitalization of $250.59 billion, a P/E ratio of 16.40, a PEG ratio of 2.52 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 company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period last year, the business posted $2.93 EPS. Chevron’s quarterly revenue was down 2.3% on a year-over-year basis. Analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.77%. Chevron’s dividend payout ratio is presently 78.17%.

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.