Chevron Co. (NYSE:CVX) is Centerstone Investors LLC's 7th Largest Position

Centerstone Investors LLC trimmed its holdings in Chevron Co. (NYSE:CVX - Free Report) by 20.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,415 shares of the oil and gas company's stock after selling 5,362 shares during the quarter. Chevron comprises about 4.3% of Centerstone Investors LLC's portfolio, making the stock its 7th biggest position. Centerstone Investors LLC's holdings in Chevron were worth $2,957,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Chevron in the fourth quarter valued at approximately $3,017,750,000. Raymond James Financial Inc. purchased a new stake in shares of Chevron during the fourth quarter worth $1,036,302,000. Bank of New York Mellon Corp lifted its position in shares of Chevron by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock worth $2,389,380,000 after acquiring an additional 2,432,756 shares in the last quarter. Amundi lifted its position in shares of Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock worth $1,323,549,000 after acquiring an additional 1,910,262 shares in the last quarter. Finally, Capital World Investors raised its position 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 worth $2,039,288,000 after buying an additional 1,440,808 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Up 0.7%

NYSE:CVX traded up $0.98 during mid-day trading on Tuesday, reaching $137.52. 4,305,358 shares of the company's stock traded hands, compared to its average volume of 8,820,195. The company has a 50 day moving average price of $144.12 and a 200-day moving average price of $151.03. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market capitalization of $240.17 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96.

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 for the quarter, beating the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business's revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.93 EPS. On average, sell-side analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.97%. Chevron's payout ratio is 78.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CVX shares. HSBC downgraded Chevron from a "buy" rating to a "hold" rating and lowered their price target for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Truist Financial lowered their price target on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research report on Tuesday, February 4th. TD Cowen reduced their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Raymond James reduced their price objective on Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Finally, BNP Paribas cut Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of "Hold" and an average target price of $160.24.

Chevron Company 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.