Bryn Mawr Capital Management LLC Grows Stock Holdings in Chevron Corporation (NYSE:CVX)

Bryn Mawr Capital Management LLC grew its stake in shares of Chevron Corporation (NYSE:CVX) by 0.7% during the first quarter, Holdings Channel reports. The institutional investor owned 82,546 shares of the oil and gas company’s stock after purchasing an additional 560 shares during the quarter. Chevron comprises 0.8% of Bryn Mawr Capital Management LLC’s portfolio, making the stock its 28th biggest holding. Bryn Mawr Capital Management LLC’s holdings in Chevron were worth $13,809,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. IMG Wealth Management Inc. purchased a new position in shares of Chevron during the fourth quarter valued at approximately $25,000. Life Planning Partners Inc purchased a new position in shares of Chevron during the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron during the fourth quarter valued at approximately $29,000. 10Elms LLP purchased a new position in shares of Chevron during the fourth quarter valued at approximately $29,000. Finally, Navigoe LLC purchased a new position in Chevron in the 4th quarter worth approximately $33,000. 72.42% of the stock is owned by institutional investors.

Chevron Trading Down 2.4%

Shares of CVX opened at $151.66 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The business’s 50-day moving average price is $142.95 and its 200 day moving average price is $148.52. The stock has a market capitalization of $264.85 billion, a P/E ratio of 17.36, a P/E/G ratio of 2.63 and a beta of 0.83.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business’s revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.93 earnings per share. Analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.51%. Chevron’s payout ratio is presently 78.17%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CVX shares. UBS Group decreased their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. Wells Fargo & Company reiterated an “overweight” rating and set a $165.00 price objective (up previously from $164.00) on shares of Chevron in a research report on Thursday, June 26th. TD Cowen reduced 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. DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a report on Tuesday, May 6th. Finally, Mizuho lowered their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research report 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 given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $161.65.

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.