SeaBridge Investment Advisors LLC Trims Holdings in Chevron Corporation (NYSE:CVX)

SeaBridge Investment Advisors LLC reduced its holdings in shares of Chevron Corporation (NYSE:CVX) by 28.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,447 shares of the oil and gas company’s stock after selling 1,808 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in Chevron were worth $744,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. IMG Wealth Management Inc. purchased a new position in shares of Chevron during the 4th quarter valued at approximately $25,000. Life Planning Partners Inc bought a new position in Chevron during the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron during the fourth quarter worth $29,000. 10Elms LLP bought a new position in Chevron during the fourth quarter worth $29,000. Finally, Navigoe LLC bought a new position in Chevron during the fourth quarter worth $33,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on CVX shares. Hsbc Global Res cut Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Barclays restated an “equal weight” rating on shares of Chevron in a research note on Tuesday. TD Cowen cut their target price on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Piper Sandler reiterated an “overweight” rating on shares of Chevron in a research note on Tuesday. Finally, UBS Group cut their target price on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Three equities 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 stock. Based on data from MarketBeat, Chevron presently has an average rating of “Hold” and an average target price of $161.65.

Chevron Price Performance

Shares of CVX opened at $150.71 on Wednesday. The firm has a market capitalization of $263.20 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 2.57 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The stock’s fifty day moving average is $143.24 and its 200-day moving average is $148.54.

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

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is 78.17%.

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.