Pathstone Holdings LLC Lowers Position in Chevron Co. (NYSE:CVX)

Pathstone Holdings LLC lowered its stake in shares of Chevron Co. (NYSE:CVX) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 254,465 shares of the oil and gas company’s stock after selling 11,694 shares during the quarter. Pathstone Holdings LLC’s holdings in Chevron were worth $36,863,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CVX. Mufg Securities Americas Inc. purchased a new stake in shares of Chevron in the fourth quarter valued at about $3,573,000. Malaga Cove Capital LLC increased its stake in Chevron by 2.3% in the 4th quarter. Malaga Cove Capital LLC now owns 4,420 shares of the oil and gas company’s stock valued at $640,000 after buying an additional 100 shares during the last quarter. Nearwater Capital Markets Ltd bought a new position in shares of Chevron during the 4th quarter worth approximately $30,412,000. NorthRock Partners LLC boosted its stake in shares of Chevron by 210.7% in the 4th quarter. NorthRock Partners LLC now owns 39,958 shares of the oil and gas company’s stock worth $5,788,000 after buying an additional 27,096 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Chevron by 3.1% during the fourth quarter. Nuveen Asset Management LLC now owns 7,842,230 shares of the oil and gas company’s stock worth $1,135,869,000 after acquiring an additional 233,932 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Mizuho decreased their price objective on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday. Redburn Atlantic reaffirmed a “sell” rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Raymond James reduced their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. HSBC lowered Chevron from a “buy” rating to a “hold” rating and lowered their target price for the company from $176.00 to $158.00 in a research note on Tuesday. Finally, Truist Financial cut their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Chevron currently has a consensus rating of “Hold” and an average target price of $160.24.

Chevron Stock Performance

Shares of CVX opened at $142.31 on Wednesday. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The firm has a market capitalization of $250.55 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a 50-day simple moving average of $147.51 and a two-hundred day simple moving average of $151.94. 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 (NYSE:CVX) last released its earnings results 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 return on equity of 11.44% and a net margin of 8.71%. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the previous year, the company posted $2.93 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.81%. Chevron’s dividend payout ratio 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.