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

by · The Markets Daily

WESPAC Advisors LLC cut its stake in Chevron Corporation (NYSE:CVX – Free Report) by 22.2% during the 1st quarter, HoldingsChannel reports. The fund owned 1,785 shares of the oil and gas company’s stock after selling 510 shares during the period. WESPAC Advisors LLC’s holdings in Chevron were worth $299,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. acquired a new stake in shares of Chevron in the 4th quarter valued at about $25,000. Life Planning Partners Inc bought a new stake in Chevron in the fourth quarter valued at about $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron during the fourth quarter valued at approximately $29,000. 10Elms LLP bought a new position in Chevron during the 4th quarter worth approximately $29,000. Finally, Navigoe LLC acquired a new position in shares of Chevron in the 4th quarter worth approximately $33,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Up 0.8%

Chevron stock opened at $154.20 on Friday. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a market cap of $269.29 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 2.59 and a beta of 0.83. The company’s 50-day moving average price is $142.28 and its two-hundred day moving average price is $148.33. 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 (NYSE:CVX – Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the business earned $2.93 earnings per share. On average, analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.44%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Piper Sandler boosted their price target on Chevron from $162.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, July 2nd. UBS Group lowered their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $160.00 to $143.00 in a report on Friday, April 11th. TD Cowen reduced their price target on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Finally, Redburn Atlantic reaffirmed a “sell” rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $160.65.

Check Out Our Latest Analysis on Chevron

About Chevron

(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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