Chevron Corporation (NYSE:CVX) Shares Sold by Buffington Mohr McNeal

Buffington Mohr McNeal lessened its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 84.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,535 shares of the oil and gas company's stock after selling 23,848 shares during the period. Buffington Mohr McNeal's holdings in Chevron were worth $759,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of Chevron by 1.1% in the 4th 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 buying an additional 392,916 shares during the last quarter. Norges Bank purchased a new position in Chevron in the fourth quarter worth about $3,017,750,000. Northern Trust Corp grew its stake in shares of Chevron by 7.3% during the 4th 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 purchasing an additional 1,394,091 shares during the period. Franklin Resources Inc. increased its position in shares of Chevron by 0.5% during the 4th quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company's stock valued at $2,502,850,000 after purchasing an additional 79,917 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Chevron by 1.3% during the fourth quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company's stock valued at $2,421,564,000 after buying an additional 211,023 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of CVX traded up $0.25 during trading hours on Friday, hitting $148.23. 5,173,309 shares of the stock were exchanged, compared to its average volume of 8,273,025. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a market cap of $258.86 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 2.52 and a beta of 0.83. The stock's 50-day moving average price is $140.97 and its two-hundred day moving average price is $148.07. 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 (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same quarter in the prior year, the company earned $2.93 EPS. Chevron's revenue was down 2.3% compared to the same quarter last year. Research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.61%. Chevron's payout ratio is 78.17%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CVX. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $165.00 price objective (up previously from $164.00) on shares of Chevron in a research note on Thursday, June 26th. DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a report on Tuesday, May 6th. TD Cowen lowered their target price on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a report on Monday, May 5th. BNP Paribas cut shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Finally, Piper Sandler increased their price objective on shares of Chevron from $162.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, Chevron has an average rating of "Hold" and a consensus target price of $160.41.

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.