Chevron Co. (NYSE:CVX) Position Cut by 1900 Wealth Management LLC

1900 Wealth Management LLC trimmed its holdings in Chevron Co. (NYSE:CVX) by 2.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,608 shares of the oil and gas company’s stock after selling 179 shares during the quarter. 1900 Wealth Management LLC’s holdings in Chevron were worth $1,190,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. American Capital Advisory LLC boosted its stake in Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 125 shares in the last quarter. Bare Financial Services Inc bought a new position in Chevron during the 4th quarter valued at $27,000. Frank Rimerman Advisors LLC bought a new position in Chevron during the 4th quarter valued at $30,000. Cooksen Wealth LLC bought a new position in Chevron during the 4th quarter valued at $40,000. Finally, Clear Investment Research LLC boosted its stake in Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 204 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Down 0.6 %

Shares of NYSE:CVX traded down $0.92 during midday trading on Wednesday, hitting $146.03. 5,612,220 shares of the stock were exchanged, compared to its average volume of 7,772,609. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The business’s fifty day simple moving average is $152.75 and its two-hundred day simple moving average is $155.77. The company has a market capitalization of $269.13 billion, a PE ratio of 13.43, a P/E/G ratio of 2.46 and a beta of 1.10.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the prior year, the business posted $3.08 earnings per share. Chevron’s revenue was up 4.7% on a year-over-year basis. As a group, research analysts predict that Chevron Co. will post 11.96 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.46%. The ex-dividend date is Monday, August 19th. Chevron’s payout ratio is 59.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Scotiabank cut their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Royal Bank of Canada cut their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Barclays cut their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. HSBC increased their price objective on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Wolfe Research assumed coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $183.82.

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.