West Paces Advisors Inc. Sells 648 Shares of Chevron Co. (NYSE:CVX)

West Paces Advisors Inc. reduced its stake in Chevron Co. (NYSE:CVX) by 5.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,414 shares of the oil and gas company’s stock after selling 648 shares during the period. West Paces Advisors Inc.’s holdings in Chevron were worth $1,909,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in Chevron by 27.3% in the first quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock valued at $5,408,000 after purchasing an additional 6,928 shares in the last quarter. First National Bank Sioux Falls increased its stake in Chevron by 11.4% in the first quarter. First National Bank Sioux Falls now owns 4,836 shares of the oil and gas company’s stock valued at $809,000 after purchasing an additional 495 shares in the last quarter. Wealthcare Advisory Partners LLC increased its stake in Chevron by 6.2% in the first quarter. Wealthcare Advisory Partners LLC now owns 28,303 shares of the oil and gas company’s stock valued at $4,735,000 after purchasing an additional 1,644 shares in the last quarter. Requisite Capital Management LLC increased its stake in Chevron by 1.2% in the first quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company’s stock valued at $1,064,000 after purchasing an additional 77 shares in the last quarter. Finally, Yousif Capital Management LLC increased its stake in Chevron by 0.6% in the first quarter. Yousif Capital Management LLC now owns 294,770 shares of the oil and gas company’s stock valued at $49,312,000 after purchasing an additional 1,745 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Up 0.4%

Chevron stock opened at $140.76 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market cap of $245.82 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm’s 50-day simple moving average is $138.46 and its 200 day simple moving average is $149.50.

Chevron (NYSE:CVX) last released 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 firm had revenue of $47.61 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned $2.93 earnings per share. Research analysts predict that Chevron Co. will post 10.79 EPS 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 paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date is Monday, May 19th. Chevron’s payout ratio is 78.17%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $160.00 to $143.00 in a research note on Friday, April 11th. UBS Group decreased their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Piper Sandler decreased their target price on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company decreased their target price on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Finally, 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. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $160.24.

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.