Hexagon Capital Partners LLC Buys 542 Shares of Chevron Corporation (NYSE:CVX)

Hexagon Capital Partners LLC increased its stake in shares of Chevron Corporation (NYSE:CVX) by 5.0% during the 1st quarter, Holdings Channel reports. The fund owned 11,324 shares of the oil and gas company’s stock after acquiring an additional 542 shares during the period. Chevron comprises approximately 0.4% of Hexagon Capital Partners LLC’s investment portfolio, making the stock its 22nd largest position. Hexagon Capital Partners LLC’s holdings in Chevron were worth $1,894,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. IMG Wealth Management Inc. bought a new position in shares of Chevron in the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron in the 4th quarter worth about $29,000. 10Elms LLP bought a new stake in Chevron in the 4th quarter worth about $29,000. Fairway Wealth LLC grew its position in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 88 shares in the last quarter. Finally, IFS Advisors LLC grew its position in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 116 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

NYSE CVX opened at $148.23 on Friday. The company’s 50 day moving average is $141.16 and its 200-day moving average is $148.10. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The firm has a market cap of $258.86 billion, a P/E 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 results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the previous year, the firm posted $2.93 earnings per share. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. Sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

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

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent analyst reports. UBS Group reduced their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Redburn Atlantic reiterated 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. Hsbc Global Res cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Wells Fargo & Company reiterated an “overweight” rating and issued a $165.00 target price (up from $164.00) on shares of Chevron in a research note on Thursday, June 26th. Finally, TD Cowen dropped their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Chevron currently has an average rating of “Hold” and a consensus price target of $160.41.

Chevron 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.