Chevron Corporation (NYSE:CVX) Shares Sold by FSM Wealth Advisors LLC

by · The Cerbat Gem

FSM Wealth Advisors LLC trimmed its stake in shares of Chevron Corporation (NYSE:CVX – Free Report) by 13.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,050 shares of the oil and gas company’s stock after selling 902 shares during the quarter. FSM Wealth Advisors LLC’s holdings in Chevron were worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of CVX. Norges Bank acquired a new position in Chevron in the 4th quarter valued at $3,017,750,000. Raymond James Financial Inc. purchased a new stake in shares of Chevron in the fourth quarter valued at about $1,036,302,000. GAMMA Investing LLC increased its stake in shares of Chevron by 21,191.5% during the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock worth $904,746,000 after acquiring an additional 5,382,847 shares during the period. Amundi raised its holdings in Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock worth $1,323,549,000 after purchasing an additional 1,910,262 shares in the last quarter. Finally, Capital World Investors raised its holdings in Chevron by 11.4% during the fourth quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company’s stock worth $2,039,288,000 after purchasing an additional 1,440,808 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Barclays lowered Chevron from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Piper Sandler decreased 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. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. HSBC downgraded Chevron from a “buy” rating to a “hold” rating and reduced their target price for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Finally, 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 research note on Tuesday, May 6th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Chevron currently has an average rating of “Hold” and a consensus price target of $160.29.

View Our Latest Report on Chevron

Chevron Price Performance

CVX stock opened at $145.46 on Wednesday. The stock’s 50 day moving average price is $140.56 and its 200 day moving average price is $148.08. The firm 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. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX – Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business’s revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.93 earnings per share. On average, sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.70%. Chevron’s payout ratio is currently 78.17%.

Chevron Profile

(Free Report)

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.

See Also

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