CGN Advisors LLC Trims Holdings in Chevron Co. (NYSE:CVX)

CGN Advisors LLC reduced its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 6.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,905 shares of the oil and gas company's stock after selling 1,839 shares during the quarter. CGN Advisors LLC's holdings in Chevron were worth $4,836,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. IMG Wealth Management Inc. bought a new stake in Chevron during the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron in the 4th quarter worth $29,000. 10Elms LLP bought a new stake in Chevron during the 4th quarter valued at approximately $29,000. Fairway Wealth LLC raised its holdings in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 88 shares in the last quarter. Finally, Navigoe LLC purchased a new position in Chevron during the 4th quarter valued at about $33,000. Institutional investors own 72.42% of the company's stock.

Chevron Price Performance

Shares of Chevron stock traded down $2.09 during mid-day trading on Wednesday, reaching $137.46. 8,728,080 shares of the stock were exchanged, compared to its average volume of 8,112,503. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market cap of $240.06 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The firm has a 50-day simple moving average of $140.73 and a 200 day simple moving average of $150.20. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts' consensus estimates 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 11.44% and a net margin of 8.71%. The company's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.93 earnings per share. On average, sell-side analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.98%. Chevron's payout ratio is presently 78.17%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CVX. HSBC downgraded shares of Chevron from a "buy" rating to a "hold" rating and lowered their price objective for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. BNP Paribas cut shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. TD Cowen cut their price objective on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a report on Monday, May 5th. Redburn Atlantic reissued a "sell" rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Finally, Barclays downgraded shares of Chevron from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $160.24.

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.