CCM Investment Advisers LLC Has $12.11 Million Holdings in Chevron Co. (NYSE:CVX)

CCM Investment Advisers LLC decreased its stake in Chevron Co. (NYSE:CVX) by 13.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,360 shares of the oil and gas company’s stock after selling 11,500 shares during the quarter. CCM Investment Advisers LLC’s holdings in Chevron were worth $12,105,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Life Planning Partners Inc acquired a new stake in shares of Chevron during the 4th quarter worth about $25,000. IMG Wealth Management Inc. bought a new stake in Chevron during the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron during the fourth quarter worth about $29,000. 10Elms LLP acquired a new stake in shares of Chevron during the fourth quarter worth approximately $29,000. Finally, Fairway Wealth LLC boosted its holdings in shares of 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 acquiring an additional 88 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on CVX shares. Piper Sandler reduced their price objective on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. DZ Bank lowered shares of 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. Mizuho lowered their price target 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. UBS Group dropped 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. Finally, HSBC cut Chevron from a “buy” rating to a “hold” rating and lowered their target price for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Three 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $160.24.

Chevron Stock Performance

Shares of CVX opened at $144.90 on Friday. The firm has a market cap of $253.05 billion, a P/E ratio of 14.91, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm’s 50 day moving average price is $138.35 and its two-hundred day moving average price is $149.32.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the business posted $2.93 earnings per share. On average, analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.72%. Chevron’s dividend payout ratio 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.