Chemistry Wealth Management LLC Sells 88 Shares of Chevron Co. (NYSE:CVX)

Chemistry Wealth Management LLC lowered its stake in shares of Chevron Co. (NYSE:CVX) by 2.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,952 shares of the oil and gas company’s stock after selling 88 shares during the quarter. Chemistry Wealth Management LLC’s holdings in Chevron were worth $661,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Life Planning Partners Inc bought a new position in Chevron during the fourth quarter worth about $25,000. IMG Wealth Management Inc. bought a new position in Chevron during the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron during the fourth quarter worth about $29,000. 10Elms LLP bought 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 purchasing an additional 88 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on CVX shares. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. UBS Group cut 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. BNP Paribas lowered shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Redburn Atlantic restated a “sell” rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, Hsbc Global Res lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $160.24.

Chevron Trading Up 2.4%

Shares of CVX opened at $140.21 on Friday. The firm’s 50 day simple moving average is $138.98 and its 200 day simple moving average is $149.81. The company has a market capitalization of $244.86 billion, a P/E ratio of 14.42, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96.

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 business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. Chevron’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the firm posted $2.93 earnings per share. Sell-side analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s dividend payout ratio (DPR) 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.