Sutton Place Investors LLC Has $277,000 Position in Chevron Corporation (NYSE:CVX)

Sutton Place Investors LLC lessened its stake in shares of Chevron Corporation (NYSE:CVX) by 62.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,657 shares of the oil and gas company’s stock after selling 2,774 shares during the period. Sutton Place Investors LLC’s holdings in Chevron were worth $277,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Berkeley Capital Partners LLC raised its holdings in Chevron by 0.4% during the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock worth $2,572,000 after buying an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC raised its holdings in shares of Chevron by 6.1% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company’s stock valued at $171,000 after purchasing an additional 68 shares during the last quarter. CoreCap Advisors LLC raised its holdings in shares of Chevron by 0.3% in the fourth quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company’s stock valued at $4,091,000 after purchasing an additional 71 shares during the last quarter. Fairscale Capital LLC raised its holdings in shares of Chevron by 11.5% in the fourth quarter. Fairscale Capital LLC now owns 706 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 73 shares during the last quarter. Finally, Austin Wealth Management LLC raised its holdings in shares of Chevron by 3.2% in the fourth quarter. Austin Wealth Management LLC now owns 2,364 shares of the oil and gas company’s stock valued at $342,000 after purchasing an additional 74 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 0.2%

CVX stock opened at $148.23 on Friday. The firm has a fifty day moving average price of $141.16 and a 200 day moving average price of $148.07. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The firm has a market cap of $258.86 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 2.51 and a beta of 0.83.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same period in the previous year, the firm earned $2.93 earnings per share. Chevron’s quarterly revenue was down 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.61%. Chevron’s dividend payout ratio (DPR) is 78.17%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wells Fargo & Company restated an “overweight” rating and set a $165.00 price target (up previously from $164.00) on shares of Chevron in a research report on Thursday, June 26th. Mizuho cut their price objective on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Redburn Atlantic reaffirmed a “sell” rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Finally, Hsbc Global Res downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $160.41.

About Chevron

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.