Chevron Corporation $CVX Position Cut by Berkshire Asset Management LLC PA

Key Points

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Berkshire Asset Management LLC PA decreased its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 1.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 385,956 shares of the oil and gas company's stock after selling 6,677 shares during the period. Chevron comprises approximately 3.0% of Berkshire Asset Management LLC PA's investment portfolio, making the stock its 4th biggest holding. Berkshire Asset Management LLC PA's holdings in Chevron were worth $64,567,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Sage Capital Advisors llc increased its position in shares of Chevron by 2.2% during the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock worth $7,097,000 after purchasing an additional 919 shares in the last quarter. CCG Wealth Management LLC increased its position in shares of Chevron by 2.3% during the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock worth $1,060,000 after purchasing an additional 145 shares in the last quarter. Ignite Planners LLC increased its position in shares of Chevron by 14.1% during the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock worth $2,060,000 after purchasing an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. increased its position in shares of Chevron by 9.1% during the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock worth $993,000 after purchasing an additional 495 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Chevron by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock worth $24,075,000 after purchasing an additional 675 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CVX shares. UBS Group upped their target price on Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a research report on Wednesday. Wells Fargo & Company reissued an "overweight" rating and issued a $178.00 target price on shares of Chevron in a research report on Friday, August 1st. Raymond James Financial reissued an "outperform" rating on shares of Chevron in a research report on Friday, August 1st. Melius Research started coverage on Chevron in a research report on Wednesday. They issued a "hold" rating and a $155.00 target price on the stock. Finally, DZ Bank downgraded Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a research report on Tuesday, May 6th. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $163.95.

Chevron Price Performance

Shares of NYSE:CVX traded up $2.3470 during trading on Friday, reaching $157.8970. 9,047,603 shares of the company's stock traded hands, compared to its average volume of 9,338,105. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The firm has a market cap of $272.84 billion, a PE ratio of 20.32, a P/E/G ratio of 2.27 and a beta of 0.87. The company has a 50-day simple moving average of $150.97 and a 200-day simple moving average of $148.63.

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

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is 88.03%.

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.