Fourpath Capital Management LLC Lowers Position in Chevron Co. (NYSE:CVX)

Fourpath Capital Management LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 0.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 52,522 shares of the oil and gas company’s stock after selling 254 shares during the period. Chevron accounts for approximately 1.5% of Fourpath Capital Management LLC’s holdings, making the stock its 17th biggest holding. Fourpath Capital Management LLC’s holdings in Chevron were worth $8,787,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Life Planning Partners Inc purchased a new stake in shares of Chevron during the 4th quarter valued at about $25,000. 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 position in shares of Chevron during the fourth quarter worth $29,000. 10Elms LLP purchased a new stake in Chevron during the 4th quarter worth $29,000. Finally, Fairway Wealth LLC boosted its position in Chevron by 75.9% in 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 last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

NYSE:CVX opened at $140.76 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $138.46 and a 200-day moving average of $149.50. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The firm has a market cap of $245.82 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (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 analysts’ expectations of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.93 earnings per share. Analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.86%. Chevron’s payout ratio is presently 78.17%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. BNP Paribas cut Chevron to a “cautious” rating in a research note on Tuesday, April 15th. 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 report on Tuesday, May 13th. Redburn Atlantic restated a “sell” rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. UBS Group lowered their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. Finally, Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Three 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 an average target price of $160.24.

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.