Kings Path Partners LLC Sells 6,621 Shares of Chevron Co. (NYSE:CVX)

Kings Path Partners LLC lessened its position in Chevron Co. (NYSE:CVX) by 72.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,459 shares of the oil and gas company’s stock after selling 6,621 shares during the period. Kings Path Partners LLC’s holdings in Chevron were worth $411,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Capital & Planning LLC boosted its holdings in shares of Chevron by 15.2% in the fourth quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company’s stock valued at $243,000 after buying an additional 222 shares during the period. Eagle Capital Management LLC boosted its holdings in shares of Chevron by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock valued at $5,011,000 after buying an additional 242 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of Chevron in the fourth quarter valued at approximately $8,947,000. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Chevron by 8.0% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 9,439 shares of the oil and gas company’s stock valued at $1,367,000 after buying an additional 696 shares during the period. Finally, BSW Wealth Partners boosted its holdings in shares of Chevron by 18.0% in the fourth quarter. BSW Wealth Partners now owns 4,951 shares of the oil and gas company’s stock valued at $717,000 after buying an additional 754 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

NYSE:CVX opened at $137.89 on Friday. 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 $240.81 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 1.46 and a beta of 0.83. The firm’s 50-day simple moving average is $142.47 and its 200 day simple moving average is $150.70. 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 (NYSE:CVX) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period last year, the firm earned $2.93 earnings per share. Chevron’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, sell-side analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s dividend payout ratio is currently 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research analyst reports. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. Barclays cut shares of Chevron from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Piper Sandler cut their price target on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. 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 research note on Monday, May 5th. Finally, HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and cut their price target for the company 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $160.24.

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.