Canvas Wealth Advisors LLC Trims Stock Position in Chevron Corporation (NYSE:CVX)

by · The Cerbat Gem

Canvas Wealth Advisors LLC lowered its position in shares of Chevron Corporation (NYSE:CVX – Free Report) by 7.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,866 shares of the oil and gas company’s stock after selling 161 shares during the period. Canvas Wealth Advisors LLC’s holdings in Chevron were worth $312,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Parkside Financial Bank & Trust grew its stake in Chevron by 0.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock worth $2,207,000 after buying an additional 66 shares in the last quarter. Berkeley Capital Partners LLC grew its stake in Chevron by 0.4% in the 4th quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock worth $2,572,000 after buying an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its stake in Chevron by 6.1% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company’s stock worth $171,000 after buying an additional 68 shares in the last quarter. CoreCap Advisors LLC grew its stake in Chevron by 0.3% in the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company’s stock worth $4,091,000 after buying an additional 71 shares in the last quarter. Finally, Fairscale Capital LLC grew its stake in Chevron by 11.5% in the 4th quarter. Fairscale Capital LLC now owns 706 shares of the oil and gas company’s stock worth $102,000 after buying an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.4%

NYSE:CVX opened at $143.87 on Friday. The company has a fifty day moving average of $140.20 and a 200 day moving average of $148.27. Chevron Corporation has a 52 week low of $132.04 and a 52 week 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 capitalization of $251.26 billion, a P/E ratio of 16.44, a P/E/G ratio of 2.54 and a beta of 0.83.

Chevron (NYSE:CVX – Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $49.05 billion. During the same period in the prior year, the business posted $2.93 EPS. The firm’s revenue was down 2.3% compared to the same quarter last year. On average, research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued 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 yield of 4.75%. Chevron’s dividend payout ratio is currently 78.17%.

Analysts Set New Price Targets

CVX has been the subject of a number of research reports. Barclays cut shares of Chevron from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. UBS Group cut their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective for the company. in a report on Tuesday, May 6th. Finally, Mizuho lowered 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, May 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $160.29.

View Our Latest Research Report on Chevron

Chevron Company Profile

(Free Report)

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.

See Also

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