Dakota Wealth Management Sells 3,144 Shares of Chevron Corporation (NYSE:CVX)

by · The Cerbat Gem

Dakota Wealth Management lessened its holdings in shares of Chevron Corporation (NYSE:CVX – Free Report) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 74,452 shares of the oil and gas company’s stock after selling 3,144 shares during the quarter. Dakota Wealth Management’s holdings in Chevron were worth $12,455,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CVX. IMG Wealth Management Inc. acquired a new stake in shares of Chevron in the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron in the fourth quarter worth $29,000. 10Elms LLP acquired a new stake in shares of Chevron in the fourth quarter worth $29,000. IFS Advisors LLC grew its stake in shares of Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 116 shares during the last quarter. Finally, Navigoe LLC acquired a new stake in shares of Chevron in the fourth quarter worth $33,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE:CVX opened at $155.38 on Monday. The stock has a market capitalization of $271.35 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.63 and a beta of 0.83. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $142.62 and a two-hundred day moving average price of $148.47.

Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.93 EPS. Equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.40%. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the topic of several research analyst reports. TD Cowen lowered their price objective on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Hsbc Global Res downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. BNP Paribas downgraded shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Redburn Atlantic reiterated a “sell” rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Finally, HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and decreased their price target for the stock from $176.00 to $158.00 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 company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $161.65.

Read Our Latest Report on Chevron

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.

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