Peregrine Asset Advisers Inc. Trims Stake in Chevron Corporation (NYSE:CVX)

Peregrine Asset Advisers Inc. reduced its position in shares of Chevron Corporation (NYSE:CVX) by 4.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,947 shares of the oil and gas company’s stock after selling 502 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in Chevron were worth $1,664,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CVX. Life Planning Partners Inc purchased a new stake in Chevron during the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Chevron in the 4th quarter valued at $29,000. 10Elms LLP purchased a new position in Chevron in the 4th quarter worth $29,000. Navigoe LLC acquired a new stake in Chevron during the 4th quarter worth about $33,000. Finally, IFS Advisors LLC increased its holdings in shares of Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 116 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Down 1.1%

Shares of NYSE CVX opened at $149.79 on Monday. The company has a 50 day simple moving average of $144.04 and a 200-day simple moving average of $148.68. The company has a market capitalization of $261.59 billion, a P/E ratio of 17.12, a P/E/G ratio of 2.48 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96.

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

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.57%. Chevron’s dividend payout ratio is currently 78.17%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CVX shares. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target on the stock. in a report on Tuesday, May 6th. Piper Sandler reiterated an “overweight” rating on shares of Chevron in a research note on Tuesday, July 15th. TD Cowen decreased their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, May 5th. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and lowered their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Chevron currently has an average rating of “Hold” and a consensus target price of $161.31.

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.