Chilton Capital Management LLC Decreases Stake in Chevron Corporation (NYSE:CVX)

Chilton Capital Management LLC lowered its stake in Chevron Corporation (NYSE:CVX) by 7.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,026 shares of the oil and gas company’s stock after selling 990 shares during the period. Chilton Capital Management LLC’s holdings in Chevron were worth $2,179,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. IMG Wealth Management Inc. purchased a new position in shares of Chevron in the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron in the fourth quarter worth $29,000. 10Elms LLP purchased a new position in shares of Chevron in the fourth quarter worth $29,000. Fairway Wealth LLC raised its holdings in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after buying an additional 88 shares during the last quarter. Finally, IFS Advisors LLC raised its holdings 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 buying an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.2%

CVX stock opened at $148.23 on Friday. The firm has a market cap of $258.86 billion, a PE ratio of 16.94, a P/E/G 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. The firm’s fifty day moving average is $141.16 and its 200 day moving average is $148.10. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. The company 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 firm’s revenue 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, research analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.61%. Chevron’s dividend payout ratio is presently 78.17%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CVX. Piper Sandler raised their price target on shares of Chevron from $162.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday. Scotiabank lowered shares of 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 note on Friday, April 11th. Mizuho cut their price objective on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Hsbc Global Res lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Finally, BNP Paribas lowered shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Chevron has a consensus rating of “Hold” and an average price target of $160.41.

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.