B. Riley Wealth Advisors Inc. Cuts Stake in Chevron Co. (NYSE:CVX)

B. Riley Wealth Advisors Inc. trimmed its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,570 shares of the oil and gas company's stock after selling 5,396 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in Chevron were worth $11,815,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CVX. Life Planning Partners Inc purchased a new position in Chevron in the 4th quarter worth approximately $25,000. IMG Wealth Management Inc. purchased a new position in Chevron in the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron in the fourth quarter worth $29,000. 10Elms LLP purchased a new position in Chevron in the fourth quarter worth $29,000. Finally, Fairway Wealth LLC grew its position in Chevron by 75.9% in the fourth 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 hedge funds and other institutional investors.

Chevron Stock Performance

Shares of NYSE:CVX traded down $1.78 during midday trading on Wednesday, hitting $136.05. The company had a trading volume of 6,859,635 shares, compared to its average volume of 8,077,890. 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 fifty day moving average of $143.58 and a two-hundred day moving average of $150.94. The company has a market cap of $237.60 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12-month low of $132.04 and a 12-month 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 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business's quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.93 earnings per share. On average, equities research analysts expect 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 will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.03%. Chevron's dividend payout ratio (DPR) is presently 78.17%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CVX. Redburn Atlantic reiterated a "sell" rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. 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. HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Wells Fargo & Company cut their price objective on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Finally, BNP Paribas cut shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Three 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $160.24.

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.