Clare Market Investments LLC Sells 574 Shares of Chevron Co. (NYSE:CVX)

Clare Market Investments LLC lowered its stake in Chevron Co. (NYSE:CVX) by 15.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,041 shares of the oil and gas company’s stock after selling 574 shares during the quarter. Clare Market Investments LLC’s holdings in Chevron were worth $509,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CVX. IMG Wealth Management Inc. bought a new stake in Chevron in the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron in the 4th quarter worth approximately $29,000. 10Elms LLP bought a new stake in Chevron in the 4th quarter worth approximately $29,000. Fairway Wealth LLC increased its stake in Chevron by 75.9% in the 4th 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. Finally, IFS Advisors LLC increased its stake in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 116 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE:CVX opened at $137.46 on Thursday. The firm has a 50 day moving average of $140.16 and a 200 day moving average of $150.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $240.06 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron Co. 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, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. Chevron’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.93 earnings per share. On average, sell-side analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.98%. Chevron’s dividend payout ratio is currently 78.17%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CVX shares. HSBC cut Chevron from a “buy” rating to a “hold” rating and dropped their target price for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. DZ Bank cut 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. Barclays cut Chevron from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. TD Cowen dropped their target price on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. Finally, Piper Sandler dropped their target price on Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $160.24.

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.