New Century Financial Group LLC Sells 1,827 Shares of Chevron Co. (NYSE:CVX)

New Century Financial Group LLC reduced its position in Chevron Co. (NYSE:CVX) by 10.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 16,019 shares of the oil and gas company’s stock after selling 1,827 shares during the quarter. Chevron comprises about 3.1% of New Century Financial Group LLC’s holdings, making the stock its 4th largest position. New Century Financial Group LLC’s holdings in Chevron were worth $2,680,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. IMG Wealth Management Inc. acquired a new stake in Chevron in the 4th quarter valued at about $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron in the 4th quarter valued at about $29,000. 10Elms LLP acquired a new stake in Chevron in the 4th quarter valued at about $29,000. Fairway Wealth LLC grew 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 valued at $30,000 after acquiring an additional 88 shares during the last quarter. Finally, IFS Advisors LLC grew 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 valued at $36,000 after acquiring an additional 116 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CVX shares. Wells Fargo & Company reduced their target price on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Mizuho decreased their target price on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. BNP Paribas cut shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Hsbc Global Res lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Finally, HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and dropped their price objective for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $160.24.

Chevron Stock Performance

Chevron stock opened at $145.74 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a fifty day moving average price of $138.53 and a two-hundred day moving average price of $149.20. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The firm has a market capitalization of $254.52 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating 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%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the company posted $2.93 earnings per share. As a group, analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio is presently 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.