Chevron Corporation $CVX Shares Sold by Mccarter Private Wealth Services LLC

Mccarter Private Wealth Services LLC reduced its stake in shares of Chevron Corporation (NYSE:CVX) by 0.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,400 shares of the oil and gas company’s stock after selling 92 shares during the quarter. Chevron accounts for approximately 2.3% of Mccarter Private Wealth Services LLC’s portfolio, making the stock its 12th largest holding. Mccarter Private Wealth Services LLC’s holdings in Chevron were worth $3,580,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Harvest Fund Management Co. Ltd grew its position in Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after buying an additional 122 shares during the period. 10Elms LLP acquired a new stake in Chevron during the fourth quarter worth approximately $29,000. Elequin Capital LP purchased a new position in Chevron during the first quarter worth approximately $31,000. Navigoe LLC purchased a new position in Chevron during the fourth quarter worth approximately $33,000. Finally, IFS Advisors LLC raised its stake in Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 116 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Morgan Stanley initiated coverage on shares of Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 target price on the stock. Melius Research began coverage on shares of Chevron in a report on Wednesday. They set a “hold” rating and a $155.00 price objective for the company. DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a report on Tuesday, May 6th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a report on Friday, July 18th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $178.00 price objective on shares of Chevron in a research report on Friday, August 1st. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Chevron currently has an average rating of “Hold” and an average price target of $163.95.

Chevron Stock Performance

Shares of CVX opened at $155.1660 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The company has a market capitalization of $268.13 billion, a PE ratio of 19.97, a PEG ratio of 2.27 and a beta of 0.87. The company’s 50 day moving average price is $150.97 and its 200 day moving average price is $148.63. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same period in the previous year, the company earned $2.55 earnings per share. The company’s revenue was down 12.4% compared to the same quarter last year. Research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date is Tuesday, August 19th. Chevron’s dividend payout ratio is presently 88.03%.

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.