Alexander Labrunerie & CO. Inc. Cuts Holdings in Chevron Corporation (NYSE:CVX)

Alexander Labrunerie & CO. Inc. reduced its position in Chevron Corporation (NYSE:CVX) by 0.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 15,092 shares of the oil and gas company’s stock after selling 77 shares during the period. Chevron accounts for about 1.1% of Alexander Labrunerie & CO. Inc.’s holdings, making the stock its 24th largest holding. Alexander Labrunerie & CO. Inc.’s holdings in Chevron were worth $2,525,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Life Planning Partners Inc acquired a new stake in shares of Chevron during the fourth quarter valued at about $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron in the fourth quarter worth about $29,000. 10Elms LLP acquired a new position in Chevron in the fourth quarter worth about $29,000. Navigoe LLC acquired a new position in Chevron in the fourth quarter worth about $33,000. Finally, IFS Advisors LLC grew its stake in Chevron by 119.6% in the first 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 hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research reports. DZ Bank downgraded Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a research note on Tuesday, May 6th. Redburn Atlantic restated 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. BNP Paribas downgraded Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Hsbc Global Res downgraded Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Finally, TD Cowen cut their price target on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, May 5th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $161.31.

Chevron Stock Performance

Shares of CVX opened at $151.55 on Friday. The firm has a 50-day moving average of $143.81 and a 200-day moving average of $148.61. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a market cap of $264.66 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 2.45 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82.

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

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

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.