Benjamin Edwards Inc. Sells 2,247 Shares of Chevron Co. (NYSE:CVX)

Benjamin Edwards Inc. trimmed its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 145,012 shares of the oil and gas company's stock after selling 2,247 shares during the quarter. Benjamin Edwards Inc.'s holdings in Chevron were worth $21,019,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its position in Chevron by 3.4% in the third quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company's stock worth $2,610,645,000 after buying an additional 573,218 shares during the last quarter. Neville Rodie & Shaw Inc. lifted its holdings in shares of Chevron by 2.9% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 62,404 shares of the oil and gas company's stock worth $9,039,000 after acquiring an additional 1,767 shares during the last quarter. Bard Financial Services Inc. boosted its stake in shares of Chevron by 0.3% during the 4th quarter. Bard Financial Services Inc. now owns 62,735 shares of the oil and gas company's stock worth $9,087,000 after purchasing an additional 200 shares during the period. Doliver Advisors LP grew its holdings in Chevron by 0.9% during the 4th quarter. Doliver Advisors LP now owns 7,984 shares of the oil and gas company's stock valued at $1,156,000 after purchasing an additional 70 shares during the last quarter. Finally, Insight Wealth Strategies LLC raised its position in Chevron by 0.5% in the 4th quarter. Insight Wealth Strategies LLC now owns 201,015 shares of the oil and gas company's stock worth $29,115,000 after purchasing an additional 1,092 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analyst Ratings Changes

CVX has been the topic of a number of analyst reports. Wells Fargo & Company cut their target price on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Barclays lowered Chevron from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Royal Bank of Canada reissued an "outperform" rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Raymond James reduced their price target on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Finally, Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $165.27.

Chevron Price Performance

Shares of CVX opened at $138.53 on Friday. The company has a 50 day moving average of $149.76 and a two-hundred day moving average of $152.56. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a market cap of $243.90 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93.

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

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.94%. Chevron's payout ratio is currently 70.37%.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares of the company's stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is owned by company insiders.

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.

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