Slagle Financial LLC Sells 637 Shares of Chevron Corporation (NYSE:CVX)

Slagle Financial LLC lessened its stake in Chevron Corporation (NYSE:CVX) by 3.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,099 shares of the oil and gas company’s stock after selling 637 shares during the period. Chevron makes up about 1.3% of Slagle Financial LLC’s holdings, making the stock its 29th biggest holding. Slagle Financial LLC’s holdings in Chevron were worth $2,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. IMG Wealth Management Inc. bought a new position in shares of Chevron in the 4th quarter worth about $25,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Chevron during the 4th quarter valued at about $29,000. 10Elms LLP purchased a new position in shares of Chevron in the fourth quarter worth approximately $29,000. Fairway Wealth LLC boosted its holdings in shares of Chevron by 75.9% in the fourth 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 last quarter. Finally, IFS Advisors LLC lifted its holdings in Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the topic of several research reports. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and reduced their price target for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. DZ Bank cut shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target on the stock. in a report on Tuesday, May 6th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $165.00 price objective (up from $164.00) on shares of Chevron in a research note on Thursday, June 26th. Piper Sandler increased their price target on shares of Chevron from $162.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, July 2nd. Finally, Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Three investment 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. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $160.65.

Chevron Price Performance

Shares of NYSE:CVX opened at $153.04 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a market capitalization of $267.27 billion, a PE ratio of 17.49, a PEG ratio of 2.50 and a beta of 0.83. The firm has a 50 day moving average of $141.58 and a 200-day moving average of $148.22.

Chevron (NYSE:CVX) last announced its earnings results 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. The company had revenue of $47.61 billion for 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%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.93 EPS. On average, equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 4.47%. Chevron’s dividend payout ratio is currently 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.