Chevron Co. (NYSE:CVX) Stake Lowered by Elyxium Wealth LLC

Elyxium Wealth LLC decreased its stake in Chevron Co. (NYSE:CVX) by 63.3% during the 4th quarter, HoldingsChannel reports. The firm owned 2,228 shares of the oil and gas company’s stock after selling 3,844 shares during the period. Elyxium Wealth LLC’s holdings in Chevron were worth $323,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Life Planning Partners Inc acquired a new position in Chevron during the 4th quarter worth $25,000. IMG Wealth Management Inc. acquired a new stake in Chevron in the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron in the 4th quarter valued at about $29,000. Fairway Wealth LLC increased its stake in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 88 shares during the period. Finally, Navigoe LLC acquired a new stake in shares of Chevron in the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 1.0 %

Shares of CVX opened at $137.21 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The firm has a market cap of $241.57 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 1.46 and a beta of 0.83. The business’s fifty day moving average is $148.18 and its 200-day moving average is $152.14.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter in the prior year, the firm earned $2.93 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. Equities analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.99%. The ex-dividend date is Monday, May 19th. Chevron’s dividend payout ratio (DPR) is 78.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. TD Cowen cut their price target on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Truist Financial cut their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. UBS Group dropped their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Finally, BNP Paribas lowered shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Three research analysts have rated the stock with a sell rating, six have given 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 a consensus price target of $161.25.

Chevron Company 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.