Centaurus Financial Inc. Has $1.72 Million Stock Position in Chevron Co. (NYSE:CVX)

Centaurus Financial Inc. cut its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 57.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,894 shares of the oil and gas company's stock after selling 16,012 shares during the period. Centaurus Financial Inc.'s holdings in Chevron were worth $1,723,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Campbell Deegan Wealth Management LLC purchased a new position in Chevron during the fourth quarter valued at approximately $466,000. Anchor Pointe Wealth Management LLC acquired a new stake in Chevron in the fourth quarter valued at approximately $334,000. SpringVest Wealth Management LLC acquired a new stake in Chevron in the fourth quarter valued at approximately $270,000. Old North State Trust LLC lifted its stake in Chevron by 4.0% in the fourth quarter. Old North State Trust LLC now owns 2,652 shares of the oil and gas company's stock valued at $384,000 after acquiring an additional 103 shares during the last quarter. Finally, Copia Wealth Management acquired a new stake in Chevron in the fourth quarter valued at approximately $140,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Barclays cut shares of Chevron from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Raymond James reduced their price objective on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. Finally, Redburn Atlantic restated a "sell" rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Price Performance

Shares of CVX stock traded down $1.48 during mid-day trading on Friday, reaching $136.43. The company's stock had a trading volume of 12,856,437 shares, compared to its average volume of 8,106,167. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a market cap of $238.26 billion, a P/E ratio of 14.04, a PEG ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm's 50-day moving average is $141.88 and its two-hundred day moving average is $150.44.

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 analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. 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 posted $2.93 EPS. The business's revenue was down 2.3% on a year-over-year basis. On average, research analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm 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. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date is Monday, May 19th. Chevron's dividend payout ratio is 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.