Chevron Co. (NYSE:CVX) Shares Sold by Vest Financial LLC

Vest Financial LLC cut its holdings in Chevron Co. (NYSE:CVX - Free Report) by 3.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 384,112 shares of the oil and gas company's stock after selling 12,634 shares during the period. Chevron comprises about 1.0% of Vest Financial LLC's holdings, making the stock its 17th largest position. Vest Financial LLC's holdings in Chevron were worth $64,258,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CVX. Life Planning Partners Inc purchased a new position in Chevron in the fourth quarter valued at approximately $25,000. IMG Wealth Management Inc. bought a new stake in Chevron in the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron during the fourth quarter valued at about $29,000. 10Elms LLP acquired a new position in Chevron during the fourth quarter worth about $29,000. Finally, Fairway Wealth LLC grew its holdings in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after acquiring an additional 88 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 2.4%

NYSE:CVX traded up $3.31 during midday trading on Friday, reaching $140.21. The company had a trading volume of 6,555,988 shares, compared to its average volume of 8,122,067. Chevron Co. has a 12-month low of $132.04 and a 12-month 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. The firm has a market capitalization of $244.86 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 1.46 and a beta of 0.83. The stock's fifty day simple moving average is $139.54 and its 200-day simple moving average is $149.95.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data 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. 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 firm's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.93 EPS. On average, sell-side analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.88%. Chevron's payout ratio is 78.17%.

Analysts Set New Price Targets

Several equities research analysts recently commented on CVX shares. Redburn Atlantic reissued a "sell" rating and issued a $124.00 price target (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 report on Tuesday, May 13th. Mizuho cut their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Piper Sandler cut their target price on Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research note 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 assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $160.24.

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.