Chevron Corporation $CVX Holdings Decreased by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC reduced its stake in Chevron Corporation shares by 6.6% during the first quarter, leaving them with 295,875 shares valued at approximately $49.5 million.
• Chevron reported $1.77 EPS in its latest quarterly earnings, exceeding analysts' expectations, while revenue of $44.82 billion was down 12.4% year-over-year.
• The company declared a quarterly dividend of $1.71 per share, which represents an annualized dividend of $6.84 and a yield of 4.4%.

Kestra Advisory Services LLC decreased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 6.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 295,875 shares of the oil and gas company's stock after selling 21,032 shares during the quarter. Kestra Advisory Services LLC's holdings in Chevron were worth $49,497,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVX. Harvest Fund Management Co. Ltd raised its holdings in shares of Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after acquiring an additional 122 shares in the last quarter. 10Elms LLP acquired a new stake in Chevron during the fourth quarter worth about $29,000. Elequin Capital LP bought a new position in Chevron in the first quarter worth $31,000. Navigoe LLC bought a new position in shares of Chevron during the 4th quarter worth approximately $33,000. Finally, IFS Advisors LLC lifted its position in shares of Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after buying an additional 116 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Scotiabank reaffirmed a "sector perform" rating and issued a $160.00 price target (up from $143.00) on shares of Chevron in a report on Friday, July 11th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Chevron in a research note on Friday, July 18th. Barclays reissued an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. TD Cowen increased their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research note on Monday, August 4th. Finally, Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, Chevron presently has an average rating of "Hold" and a consensus price target of $163.95.

Chevron Trading Up 1.3%

Shares of CVX opened at $155.1660 on Friday. The business's fifty day moving average is $150.97 and its 200-day moving average is $148.63. The firm has a market cap of $268.13 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 2.27 and a beta of 0.87. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. Chevron's revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.55 earnings per share. Equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be given a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.4%. Chevron's dividend payout ratio (DPR) is presently 88.03%.

About Chevron

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.

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