Chevron Corporation (NYSE:CVX) Shares Sold by Cadent Capital Advisors LLC

Cadent Capital Advisors LLC lessened its position in Chevron Corporation (NYSE:CVX - Free Report) by 32.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,943 shares of the oil and gas company's stock after selling 1,861 shares during the quarter. Cadent Capital Advisors LLC's holdings in Chevron were worth $660,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Parkside Financial Bank & Trust grew its stake in shares of Chevron by 0.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock valued at $2,207,000 after buying an additional 66 shares during the last quarter. Berkeley Capital Partners LLC boosted its holdings in Chevron by 0.4% during the 4th quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock valued at $2,572,000 after acquiring an additional 67 shares during the period. CBIZ Investment Advisory Services LLC grew its position in 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 acquiring an additional 68 shares during the last quarter. Acorn Wealth Advisors LLC increased its stake in Chevron by 3.4% in the fourth quarter. Acorn Wealth Advisors LLC now owns 2,092 shares of the oil and gas company's stock worth $303,000 after purchasing an additional 69 shares during the period. Finally, Unionview LLC increased its stake in Chevron by 3.4% in the fourth quarter. Unionview LLC now owns 2,149 shares of the oil and gas company's stock worth $311,000 after purchasing an additional 70 shares during the period. Institutional investors own 72.42% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CVX. Mizuho lowered their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. BNP Paribas cut shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Scotiabank downgraded shares of Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. TD Cowen decreased their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Finally, Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Three 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $160.24.

Chevron Stock Down 0.4%

Shares of NYSE:CVX traded down $0.67 on Thursday, reaching $148.18. The company had a trading volume of 9,824,086 shares, compared to its average volume of 8,222,007. The firm has a market capitalization of $258.78 billion, a PE ratio of 16.93, a PEG ratio of 2.60 and a beta of 0.83. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The firm's 50 day simple moving average is $139.09 and its 200-day simple moving average is $148.81.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results 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. The company had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm's quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.93 earnings per share. As a group, analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.62%. Chevron's dividend payout ratio (DPR) is presently 78.17%.

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.