Atlas Private Wealth Advisors Reduces Stake in Chevron Co. (NYSE:CVX)

Atlas Private Wealth Advisors decreased its holdings in Chevron Co. (NYSE:CVX - Free Report) by 26.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,469 shares of the oil and gas company's stock after selling 3,118 shares during the period. Atlas Private Wealth Advisors' holdings in Chevron were worth $1,417,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC increased its stake in Chevron by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock worth $5,247,142,000 after purchasing an additional 392,916 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Chevron by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company's stock valued at $4,613,960,000 after buying an additional 746,806 shares during the period. Norges Bank purchased a new position in shares of Chevron during the fourth quarter valued at $3,017,750,000. Northern Trust Corp increased its stake in shares of Chevron by 7.3% during the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock valued at $2,965,135,000 after buying an additional 1,394,091 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Chevron by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock valued at $2,881,280,000 after buying an additional 410,460 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Barclays lowered Chevron from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Scotiabank lowered Chevron from a "sector outperform" rating to a "sector perform" rating and cut their price target for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Redburn Atlantic restated a "sell" rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. TD Cowen cut their price target on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Finally, Piper Sandler cut their price target on Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Chevron has a consensus rating of "Hold" and a consensus target price of $160.24.

Chevron Stock Up 0.5%

NYSE CVX traded up $0.77 during trading on Friday, hitting $145.74. The company's stock had a trading volume of 14,126,704 shares, compared to its average volume of 8,182,686. 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 company has a market cap of $254.52 billion, a PE ratio of 14.99, a P/E/G ratio of 1.46 and a beta of 0.83. The business's 50 day simple moving average is $138.53 and its 200-day simple moving average is $149.11. 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 results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.03. The business 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 quarter last year, the company earned $2.93 earnings per share. On average, equities analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

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 of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.69%. Chevron's dividend payout ratio is currently 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.