Brown Advisory Inc. Reduces Holdings in Chevron Corporation (NYSE:CVX)

Brown Advisory Inc. lowered its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 205,370 shares of the oil and gas company's stock after selling 3,752 shares during the period. Brown Advisory Inc.'s holdings in Chevron were worth $34,356,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CVX. Norges Bank bought a new stake in shares of Chevron in the fourth quarter valued at $3,017,750,000. GAMMA Investing LLC raised its stake in shares of Chevron by 21,191.5% in the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock valued at $904,746,000 after buying an additional 5,382,847 shares during the period. Capital World Investors raised its stake in shares of Chevron by 11.4% in the fourth quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock valued at $2,039,288,000 after buying an additional 1,440,808 shares during the period. Northern Trust Corp raised its stake in shares of Chevron by 7.3% in 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, Invesco Ltd. raised its stake in shares of Chevron by 6.9% in the fourth quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company's stock valued at $2,176,579,000 after buying an additional 964,426 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Price Performance

Shares of CVX traded up $1.18 during midday trading on Thursday, reaching $154.20. The stock had a trading volume of 8,389,843 shares, compared to its average volume of 8,339,637. The company's 50-day moving average is $141.92 and its 200 day moving average is $148.25. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $269.29 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 2.64 and a beta of 0.83.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same period in the prior year, the business earned $2.93 EPS. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date was Monday, May 19th. Chevron's payout ratio is currently 78.17%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CVX shares. TD Cowen lowered their target price on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. HSBC lowered Chevron from a "buy" rating to a "hold" rating and decreased their price objective for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. DZ Bank lowered Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective on the stock. in a research note on Tuesday, May 6th. Finally, Barclays boosted their price objective on Chevron from $152.00 to $156.00 and gave the company an "equal weight" rating in a research note on Monday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $160.65.

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.