Chevron Co. (NYSE:CVX) Shares Sold by Baldwin Wealth Partners LLC MA

Baldwin Wealth Partners LLC MA trimmed its position in Chevron Co. (NYSE:CVX) by 0.7% during the first quarter, Holdings Channel.com reports. The firm owned 71,410 shares of the oil and gas company’s stock after selling 469 shares during the period. Baldwin Wealth Partners LLC MA’s holdings in Chevron were worth $11,946,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Life Planning Partners Inc acquired a new stake in shares of Chevron during the fourth quarter worth $25,000. IMG Wealth Management Inc. purchased a new stake in Chevron in the 4th quarter valued at about $25,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Chevron during the 4th quarter valued at about $29,000. 10Elms LLP acquired a new stake in shares of Chevron in the fourth quarter worth approximately $29,000. Finally, Fairway Wealth LLC grew its holdings in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 2.4%

CVX stock opened at $140.21 on Monday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a 50 day simple moving average of $138.98 and a 200-day simple moving average of $149.65. The company has a market capitalization of $244.86 billion, a P/E ratio of 14.42, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping the consensus estimate 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 net margin of 8.71% and a return on equity of 11.44%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the business earned $2.93 EPS. On average, equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed 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 yield of 4.88%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s payout ratio is currently 78.17%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Scotiabank lowered 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 report on Friday, April 11th. UBS Group decreased their target price on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. Piper Sandler cut their price target on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company dropped their price objective 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, BNP Paribas cut shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. 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 company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.