Baldwin Wealth Partners LLC MA Trims Stake in Chevron Co. (NYSE:CVX)

Baldwin Wealth Partners LLC MA lessened its position in shares of Chevron Co. (NYSE:CVX) by 0.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 71,410 shares of the oil and gas company’s stock after selling 469 shares during the quarter. Baldwin Wealth Partners LLC MA’s holdings in Chevron were worth $11,946,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CVX. Sage Capital Advisors llc raised its position in Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock valued at $7,097,000 after purchasing an additional 919 shares during the last quarter. Viking Fund Management LLC increased its stake in Chevron by 9.3% in the first quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company’s stock valued at $19,573,000 after purchasing an additional 10,000 shares during the period. Allianz SE purchased a new stake in shares of Chevron in the fourth quarter valued at about $9,369,000. Nicholas Company Inc. boosted its stake in shares of Chevron by 4.3% during the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock worth $11,591,000 after buying an additional 3,280 shares during the period. Finally, Applied Finance Capital Management LLC grew its holdings in shares of Chevron by 1.6% during the fourth quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company’s stock worth $26,044,000 after buying an additional 2,755 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Barclays cut Chevron from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. BNP Paribas downgraded Chevron to a “cautious” rating in a report on Tuesday, April 15th. Hsbc Global Res lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. TD Cowen cut their price objective 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. Finally, Redburn Atlantic restated a “sell” rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $160.24.

Chevron Price Performance

CVX stock opened at $140.21 on Monday. The company has a market cap of $244.86 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 1.46 and a beta of 0.83. 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 moving average of $138.98 and a 200-day moving average of $149.65. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. Chevron’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.93 earnings per share. As a group, equities analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.88%. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

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.