Revolve Wealth Partners LLC Sells 694 Shares of Chevron Co. (NYSE:CVX)

Revolve Wealth Partners LLC decreased its stake in Chevron Co. (NYSE:CVX) by 18.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,036 shares of the oil and gas company’s stock after selling 694 shares during the period. Revolve Wealth Partners LLC’s holdings in Chevron were worth $453,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Windsor Advisory Group LLC increased its position in Chevron by 24.0% in the third quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock worth $627,000 after buying an additional 720 shares during the last quarter. Dechtman Wealth Management LLC purchased a new stake in Chevron in the 2nd quarter worth about $648,000. Renaissance Investment Group LLC increased its holdings in Chevron by 12.7% in the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after acquiring an additional 697 shares during the last quarter. Altrius Capital Management Inc raised its stake in Chevron by 2.1% in the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after acquiring an additional 434 shares during the period. Finally, Tsfg LLC lifted its holdings in Chevron by 5.3% during the third quarter. Tsfg LLC now owns 3,473 shares of the oil and gas company’s stock valued at $586,000 after purchasing an additional 176 shares during the last quarter. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on CVX. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 target price for the company. in a research note on Tuesday, January 16th. UBS Group lowered their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, December 14th. Mizuho raised their price target on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Finally, DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a report on Tuesday, February 6th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $180.39.

Chevron Price Performance

Shares of NYSE CVX traded down $0.22 during trading hours on Friday, reaching $154.64. 5,973,739 shares of the stock traded hands, compared to its average volume of 8,894,688. The company’s 50-day simple moving average is $150.77 and its two-hundred day simple moving average is $153.06. The company has a market capitalization of $287.21 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $172.88. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The business had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business’s quarterly revenue was down 16.5% on a year-over-year basis. During the same period last year, the business earned $4.09 earnings per share. Equities research analysts forecast that Chevron Co. will post 13.04 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.22%. Chevron’s payout ratio is currently 57.39%.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.