Advisory Alpha LLC Lowers Stock Holdings in Chevron Co. (NYSE:CVX)

Advisory Alpha LLC decreased its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 52.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,952 shares of the oil and gas company's stock after selling 4,372 shares during the period. Advisory Alpha LLC's holdings in Chevron were worth $661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in CVX. Life Planning Partners Inc acquired a new position in Chevron in the 4th quarter valued at $25,000. IMG Wealth Management Inc. acquired a new position in Chevron in the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron in the 4th quarter valued at $29,000. 10Elms LLP acquired a new position in Chevron in the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC raised its stake in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 88 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Down 1.1%

Shares of NYSE:CVX traded down $1.48 during midday trading on Friday, reaching $136.43. 12,856,437 shares of the company's stock were exchanged, compared to its average volume of 8,106,167. The firm's 50 day simple moving average is $141.88 and its two-hundred day simple moving average is $150.52. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market cap of $238.26 billion, a price-to-earnings ratio of 14.04, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company's quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the company earned $2.93 EPS. As a group, sell-side analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm 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 dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date is Monday, May 19th. Chevron's payout ratio is 78.17%.

Wall Street Analyst Weigh In

Several research analysts recently commented on CVX shares. Royal Bank of Canada reissued an "outperform" rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Barclays downgraded Chevron from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Piper Sandler cut their target price on Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. TD Cowen cut their target price on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Finally, UBS Group cut their target price on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. 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's stock. Based on data from MarketBeat, Chevron presently has a consensus rating of "Hold" and a consensus target price of $160.24.

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.