Chevron Corporation (NYSE:CVX) Shares Sold by PYA Waltman Capital LLC

by · The Markets Daily

PYA Waltman Capital LLC reduced its stake in shares of Chevron Corporation (NYSE:CVX – Free Report) by 8.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,272 shares of the oil and gas company’s stock after selling 1,255 shares during the quarter. PYA Waltman Capital LLC’s holdings in Chevron were worth $2,388,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of CVX. IMG Wealth Management Inc. purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron during the 4th quarter valued at $29,000. 10Elms LLP purchased a new stake in Chevron during the 4th quarter worth $29,000. IFS Advisors LLC increased its stake in Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after buying an additional 116 shares during the period. Finally, Navigoe LLC acquired a new position in Chevron in the 4th quarter worth $33,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 0.8%

CVX stock opened at $155.38 on Friday. The firm’s 50-day moving average is $142.62 and its two-hundred day moving average is $148.41. 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 company has a market capitalization of $271.35 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 2.61 and a beta of 0.83. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX – Get Free Report) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion for 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 firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.93 earnings per share. On average, analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid 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 yield of 4.40%. Chevron’s dividend payout ratio is currently 78.17%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CVX shares. Piper Sandler raised their price objective on shares of Chevron from $162.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, July 2nd. HSBC downgraded Chevron from a “buy” rating to a “hold” rating and reduced their target price for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Redburn Atlantic reiterated a “sell” rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Barclays raised their price objective on Chevron from $152.00 to $156.00 and gave the stock an “equal weight” rating in a research note on Monday, July 7th. Finally, Scotiabank increased their target price on shares of Chevron from $143.00 to $160.00 and gave the stock a “sector perform” rating in a report on Friday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $161.65.

Read Our Latest Research Report on CVX

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.

See Also

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