Callahan Advisors LLC Decreases Holdings in Chevron Corporation (NYSE:CVX)

Callahan Advisors LLC lowered its position in Chevron Corporation (NYSE:CVX - Free Report) by 6.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 102,600 shares of the oil and gas company's stock after selling 7,106 shares during the period. Chevron makes up about 1.6% of Callahan Advisors LLC's portfolio, making the stock its 20th largest position. Callahan Advisors LLC's holdings in Chevron were worth $17,164,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. IMG Wealth Management Inc. purchased a new stake in Chevron during the 4th quarter worth approximately $25,000. Life Planning Partners Inc purchased a new stake in Chevron during the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Chevron during the 4th quarter worth approximately $29,000. 10Elms LLP purchased a new stake in Chevron during the 4th quarter worth approximately $29,000. Finally, Navigoe LLC purchased a new stake in Chevron during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

Shares of CVX traded down $3.51 during trading hours on Monday, hitting $151.80. The stock had a trading volume of 10,704,141 shares, compared to its average volume of 8,369,097. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The firm has a 50-day moving average price of $142.62 and a 200 day moving average price of $148.47. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm has a market capitalization of $265.10 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 2.63 and a beta of 0.83.

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. Chevron had a net margin of 7.76% and a return on equity of 10.73%. 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 previous year, the business posted $2.93 EPS. The business's revenue was down 2.3% compared to the same quarter last year. As a group, research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.51%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio is currently 78.17%.

Analysts Set New Price Targets

CVX has been the topic of several research analyst reports. Mizuho dropped their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Barclays boosted their target price on shares of Chevron from $152.00 to $156.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Wells Fargo & Company reissued an "overweight" rating and set a $165.00 target price (up previously from $164.00) on shares of Chevron in a research report on Thursday, June 26th. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a research report on Tuesday, May 6th. Finally, UBS Group dropped their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Three 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 MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $161.65.

Chevron 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.