Lion Street Advisors LLC Reduces Stock Holdings in Chevron Corporation (NYSE:CVX)

Lion Street Advisors LLC lowered its holdings in shares of Chevron Corporation (NYSE:CVX) by 1.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,189 shares of the oil and gas company’s stock after selling 127 shares during the quarter. Lion Street Advisors LLC’s holdings in Chevron were worth $1,537,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Cornerstone Wealth Management LLC increased its stake in shares of Chevron by 1.3% in the 1st quarter. Cornerstone Wealth Management LLC now owns 23,195 shares of the oil and gas company’s stock worth $3,880,000 after purchasing an additional 303 shares in the last quarter. Shepherd Financial Partners LLC lifted its position in Chevron by 8.1% during the first quarter. Shepherd Financial Partners LLC now owns 4,764 shares of the oil and gas company’s stock valued at $797,000 after purchasing an additional 356 shares in the last quarter. Clarius Group LLC grew its holdings in Chevron by 20.9% during the first quarter. Clarius Group LLC now owns 15,649 shares of the oil and gas company’s stock valued at $2,618,000 after purchasing an additional 2,710 shares during the period. Hemenway Trust Co LLC grew its holdings in Chevron by 2.4% during the first quarter. Hemenway Trust Co LLC now owns 154,289 shares of the oil and gas company’s stock valued at $25,811,000 after purchasing an additional 3,556 shares during the period. Finally, GSB Wealth Management LLC increased its position in Chevron by 0.7% in the first quarter. GSB Wealth Management LLC now owns 19,634 shares of the oil and gas company’s stock worth $3,285,000 after buying an additional 128 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CVX shares. Mizuho lowered their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Scotiabank cut shares of 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 note on Friday, April 11th. Redburn Atlantic reaffirmed a “sell” rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and dropped their price target for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Finally, TD Cowen decreased their price objective on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $160.24.

Chevron Stock Performance

CVX opened at $148.86 on Wednesday. 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 stock has a market capitalization of $259.97 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 2.56 and a beta of 0.83. The company has a fifty day moving average of $138.78 and a 200 day moving average of $148.91. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings data 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 business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.93 EPS. As a group, sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.59%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio is presently 78.17%.

About Chevron

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.