Sutton Place Investors LLC Sells 2,774 Shares of Chevron Corporation (NYSE:CVX)

Sutton Place Investors LLC cut its position in Chevron Corporation (NYSE:CVX) by 62.6% in the first quarter, HoldingsChannel.com reports. The firm owned 1,657 shares of the oil and gas company’s stock after selling 2,774 shares during the period. Sutton Place Investors LLC’s holdings in Chevron were worth $277,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Novare Capital Management LLC boosted its position in Chevron by 0.4% in the first quarter. Novare Capital Management LLC now owns 63,781 shares of the oil and gas company’s stock valued at $10,670,000 after buying an additional 267 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in Chevron by 33.6% in the first quarter. Concurrent Investment Advisors LLC now owns 112,189 shares of the oil and gas company’s stock valued at $18,768,000 after buying an additional 28,213 shares during the last quarter. Elite Financial Inc. purchased a new stake in Chevron in the first quarter valued at approximately $155,000. World Investment Advisors boosted its position in Chevron by 2.6% in the first quarter. World Investment Advisors now owns 66,032 shares of the oil and gas company’s stock valued at $11,047,000 after buying an additional 1,643 shares during the last quarter. Finally, Wayfinding Financial LLC boosted its position in Chevron by 9.5% in the first quarter. Wayfinding Financial LLC now owns 3,901 shares of the oil and gas company’s stock valued at $652,000 after buying an additional 338 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CVX shares. UBS Group dropped their target price on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Hsbc Global Res lowered Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. DZ Bank lowered Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a research report on Tuesday, May 6th. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Finally, TD Cowen lowered their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $160.41.

Chevron Stock Up 0.2%

NYSE CVX opened at $148.23 on Friday. The business has a fifty day moving average price of $141.16 and a 200 day moving average price of $148.07. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The company has a market cap of $258.86 billion, a P/E ratio of 16.94, a P/E/G ratio of 2.51 and a beta of 0.83.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same period last year, the company earned $2.93 EPS. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. Research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend 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.