Precedent Wealth Partners LLC Has $416,000 Stock Holdings in Chevron Co. (NYSE:CVX)

Precedent Wealth Partners LLC lessened its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 78.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,486 shares of the oil and gas company's stock after selling 9,161 shares during the quarter. Precedent Wealth Partners LLC's holdings in Chevron were worth $416,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Chevron during the fourth quarter valued at about $3,017,750,000. Raymond James Financial Inc. acquired a new position in shares of Chevron during the 4th quarter valued at about $1,036,302,000. GAMMA Investing LLC raised its stake in shares of Chevron by 21,191.5% in 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 in the last quarter. Bank of New York Mellon Corp lifted its holdings in Chevron by 17.3% in the 4th 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 purchasing an additional 2,432,756 shares during the last quarter. Finally, Amundi boosted its position in 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 purchasing an additional 1,910,262 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

NYSE CVX traded up $0.16 on Monday, hitting $146.07. 10,078,133 shares of the company were exchanged, compared to its average volume of 8,190,282. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a 50 day moving average of $138.53 and a two-hundred day moving average of $149.02. 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 $255.09 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share 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 business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same quarter last year, the business posted $2.93 earnings per share. Chevron's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio (DPR) is presently 78.17%.

Analyst Ratings Changes

A number of research firms have recently commented on CVX. Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and cut their target price for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Mizuho cut their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, BNP Paribas lowered Chevron to a "cautious" rating in a report 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 company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target 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.