Parsons Capital Management Inc. RI Sells 6,832 Shares of Chevron Co. (NYSE:CVX)

Parsons Capital Management Inc. RI trimmed its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 6.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 107,290 shares of the oil and gas company's stock after selling 6,832 shares during the period. Chevron comprises 1.0% of Parsons Capital Management Inc. RI's investment portfolio, making the stock its 18th largest position. Parsons Capital Management Inc. RI's holdings in Chevron were worth $17,949,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Ibex Wealth Advisors lifted its holdings in shares of Chevron by 2.6% in the 1st quarter. Ibex Wealth Advisors now owns 47,640 shares of the oil and gas company's stock worth $7,970,000 after acquiring an additional 1,216 shares during the last quarter. SJS Investment Consulting Inc. raised its position in Chevron by 38.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 1,096 shares of the oil and gas company's stock worth $183,000 after purchasing an additional 303 shares during the period. Sonora Investment Management Group LLC lifted its stake in Chevron by 5.1% in the first quarter. Sonora Investment Management Group LLC now owns 87,400 shares of the oil and gas company's stock worth $14,621,000 after purchasing an additional 4,257 shares during the last quarter. Simplicity Wealth LLC boosted its position in Chevron by 180.0% during the first quarter. Simplicity Wealth LLC now owns 17,162 shares of the oil and gas company's stock valued at $2,871,000 after buying an additional 11,032 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Chevron by 27.3% during the first quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company's stock valued at $5,408,000 after buying an additional 6,928 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Redburn Atlantic reissued a "sell" rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Barclays downgraded shares of Chevron from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. UBS Group dropped their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Finally, DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a report on Tuesday, May 6th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $160.24.

Chevron Stock Up 1.9%

Shares of Chevron stock traded up $2.64 on Tuesday, reaching $143.40. The company's stock had a trading volume of 9,839,580 shares, compared to its average volume of 8,133,987. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The firm's fifty day simple moving average is $138.46 and its two-hundred day simple moving average is $149.50. The company has a market capitalization of $250.43 billion, a price-to-earnings ratio of 14.75, 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 (NYSE:CVX - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter last year, the firm posted $2.93 EPS. The business's quarterly revenue was down 2.3% compared to the same quarter last year. Equities analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.77%. Chevron's dividend payout ratio is presently 78.17%.

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.