GEN Financial Management INC. Decreases Position in Chevron Co. (NYSE:CVX)

GEN Financial Management INC. decreased its stake in Chevron Co. (NYSE:CVX) by 7.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,336 shares of the oil and gas company’s stock after selling 107 shares during the period. GEN Financial Management INC.’s holdings in Chevron were worth $224,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CVX. Capital & Planning LLC lifted its holdings in Chevron by 15.2% during the 4th quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company’s stock worth $243,000 after buying an additional 222 shares during the last quarter. Eagle Capital Management LLC lifted its holdings in shares of Chevron by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock worth $5,011,000 after purchasing an additional 242 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Chevron in the 4th quarter worth approximately $8,947,000. TFB Advisors LLC lifted its holdings in shares of Chevron by 2.4% in the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock worth $411,000 after purchasing an additional 66 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Chevron by 18.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 263,872 shares of the oil and gas company’s stock worth $38,712,000 after purchasing an additional 40,311 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent research reports. Wells Fargo & Company cut their price target on Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. BNP Paribas downgraded Chevron to a “cautious” rating in a report on Tuesday, April 15th. Scotiabank cut 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 report on Friday, April 11th. Barclays cut Chevron from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Finally, Mizuho lowered their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron presently has an average rating of “Hold” and an average target price of $160.24.

Chevron Trading Up 0.1%

Shares of CVX stock opened at $144.90 on Friday. The firm has a 50 day moving average price of $138.35 and a two-hundred day moving average price of $149.32. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $253.05 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX) last released its quarterly 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. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the previous year, the business earned $2.93 earnings per share. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.72%. Chevron’s 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.