Chevron Co. (NYSE:CVX) Stake Lessened by Martel Wealth Advisors Inc

Martel Wealth Advisors Inc lessened its stake in Chevron Co. (NYSE:CVX) by 6.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,718 shares of the oil and gas company’s stock after selling 112 shares during the period. Martel Wealth Advisors Inc’s holdings in Chevron were worth $287,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Life Planning Partners Inc bought a new stake in shares of Chevron in the fourth quarter worth $25,000. IMG Wealth Management Inc. bought a new stake in shares of Chevron in the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron in the fourth quarter worth $29,000. 10Elms LLP bought a new stake in shares of Chevron in the fourth quarter worth $29,000. Finally, Fairway Wealth LLC increased its stake in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after buying an additional 88 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research analyst reports. Redburn Atlantic restated a “sell” rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Piper Sandler decreased their price objective on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. BNP Paribas downgraded shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective for the company. in a report on Tuesday, May 6th. Finally, HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $160.24.

Chevron Stock Up 0.1%

Chevron stock opened at $144.90 on Friday. The company has a 50-day simple moving average of $138.35 and a 200-day simple moving average of $149.32. The firm has a market capitalization of $253.05 billion, a P/E ratio of 14.91, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.93 earnings per share. As a group, equities analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.72%. The ex-dividend date was Monday, May 19th. Chevron’s payout ratio is currently 78.17%.

Chevron Company 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.