Asahi Life Asset Management CO. LTD. Trims Stake in Chevron Corporation (NYSE:CVX)

Asahi Life Asset Management CO. LTD. lowered its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 27.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,268 shares of the oil and gas company's stock after selling 3,978 shares during the quarter. Chevron accounts for 1.1% of Asahi Life Asset Management CO. LTD.'s holdings, making the stock its 23rd largest holding. Asahi Life Asset Management CO. LTD.'s holdings in Chevron were worth $1,718,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Berkeley Capital Partners LLC raised its position in Chevron by 0.4% in the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock valued at $2,572,000 after purchasing an additional 67 shares during the period. CBIZ Investment Advisory Services LLC raised its holdings in shares of Chevron by 6.1% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company's stock valued at $171,000 after buying an additional 68 shares during the period. CoreCap Advisors LLC raised its holdings in shares of Chevron by 0.3% in the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock valued at $4,091,000 after buying an additional 71 shares during the period. Clayton Financial Group LLC raised its holdings in shares of Chevron by 4.6% in the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock valued at $285,000 after buying an additional 75 shares during the period. Finally, Requisite Capital Management LLC raised its holdings in shares of Chevron by 1.2% in the 1st quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company's stock valued at $1,064,000 after buying an additional 77 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Trading Up 0.8%

NYSE:CVX opened at $155.38 on Monday. The stock has a market cap of $271.35 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.63 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The stock has a 50-day simple moving average of $142.62 and a 200-day simple moving average of $148.47.

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

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.40%. Chevron's dividend payout ratio (DPR) is presently 78.17%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CVX shares. Barclays boosted their price objective on Chevron from $152.00 to $156.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Mizuho cut their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Scotiabank boosted their target price on Chevron from $143.00 to $160.00 and gave the stock a "sector perform" rating in a research note on Friday. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $165.00 target price (up from $164.00) on shares of Chevron in a research note on Thursday, June 26th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Chevron has a consensus rating of "Hold" and an average price target of $161.65.

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; 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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