Thompson Investment Management Inc. Trims Holdings in Chevron Co. (NYSE:CVX)

Thompson Investment Management Inc. trimmed its holdings in Chevron Co. (NYSE:CVX - Free Report) by 4.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 39,471 shares of the oil and gas company's stock after selling 1,990 shares during the period. Thompson Investment Management Inc.'s holdings in Chevron were worth $6,603,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in CVX. Sage Capital Advisors llc raised its position in shares of Chevron by 2.2% in the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after buying an additional 919 shares during the last quarter. Viking Fund Management LLC grew its stake in Chevron by 9.3% in the 1st quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company's stock worth $19,573,000 after acquiring an additional 10,000 shares during the period. Pines Wealth Management LLC raised its holdings in Chevron by 3.3% in the 1st quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company's stock valued at $1,306,000 after acquiring an additional 253 shares during the last quarter. Allianz SE purchased a new position in shares of Chevron during the 4th quarter worth $9,369,000. Finally, Nicholas Company Inc. lifted its stake in shares of Chevron by 4.3% during the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock worth $11,591,000 after purchasing an additional 3,280 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 0.1%

Shares of CVX traded up $0.12 during midday trading on Thursday, reaching $144.90. 6,989,778 shares of the company were exchanged, compared to its average volume of 8,142,651. The stock has a 50-day moving average price of $138.24 and a 200-day moving average price of $149.42. The company has a market cap of $253.05 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

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, 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 company had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter last year, the firm posted $2.93 earnings per share. The business's quarterly revenue was down 2.3% on a year-over-year basis. Research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio (DPR) is 78.17%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CVX. UBS Group lowered their price objective on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Piper Sandler lowered their price objective on Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company decreased their target price on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. HSBC downgraded shares of Chevron from a "buy" rating to a "hold" rating and lowered their target price for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Finally, Redburn Atlantic restated a "sell" rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus 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.