Chilton Capital Management LLC Decreases Holdings in Chevron Corporation (NYSE:CVX)

Chilton Capital Management LLC trimmed its stake in shares of Chevron Corporation (NYSE:CVX) by 7.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,026 shares of the oil and gas company’s stock after selling 990 shares during the period. Chilton Capital Management LLC’s holdings in Chevron were worth $2,179,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IMG Wealth Management Inc. purchased a new position in Chevron during the fourth quarter valued at $25,000. Life Planning Partners Inc purchased a new position in Chevron during the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron in the fourth quarter worth about $29,000. 10Elms LLP acquired a new position in Chevron during the fourth quarter worth about $29,000. Finally, Fairway Wealth LLC boosted its position in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 88 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. UBS Group lowered their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Piper Sandler boosted their price target on shares of Chevron from $162.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday. DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target on the stock. in a research report on Tuesday, May 6th. Wells Fargo & Company restated an “overweight” rating and set a $165.00 price target (up from $164.00) on shares of Chevron in a research report on Thursday, June 26th. Finally, Barclays lowered shares of Chevron from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $160.41.

Chevron Price Performance

Shares of CVX stock opened at $148.23 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The firm’s 50-day moving average is $141.16 and its two-hundred day moving average is $148.10. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a market capitalization of $258.86 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 2.51 and a beta of 0.83.

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

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio is presently 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.