Lake Street Private Wealth LLC Sells 1,847 Shares of Chevron Co. (NYSE:CVX)

Lake Street Private Wealth LLC lowered its position in Chevron Co. (NYSE:CVX - Free Report) by 16.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 9,407 shares of the oil and gas company's stock after selling 1,847 shares during the quarter. Lake Street Private Wealth LLC's holdings in Chevron were worth $1,574,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CVX. Norges Bank purchased a new stake in shares of Chevron during the 4th quarter valued at approximately $3,017,750,000. Raymond James Financial Inc. purchased a new position in Chevron in the 4th quarter valued at approximately $1,036,302,000. GAMMA Investing LLC raised its holdings in Chevron by 21,191.5% during the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock valued at $904,746,000 after acquiring an additional 5,382,847 shares during the period. 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. Finally, Amundi boosted its holdings in shares of Chevron by 27.7% in 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 during the period. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CVX has been the topic of a number of analyst reports. Redburn Atlantic reiterated a "sell" rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Barclays cut Chevron from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Wells Fargo & Company reduced their price objective on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Finally, HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and decreased their target price for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $160.24.

Chevron Price Performance

NYSE:CVX traded up $3.31 during midday trading on Friday, hitting $140.21. The company had a trading volume of 6,555,988 shares, compared to its average volume of 8,110,483. The company has a market capitalization of $244.86 billion, a PE ratio of 14.42, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The stock's fifty day moving average price is $139.54 and its 200-day moving average price is $149.95.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during 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 company's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.93 EPS. As a group, research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared 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. This represents a $6.84 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date is Monday, May 19th. Chevron's payout ratio is currently 78.17%.

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.