Chevron Corporation (NYSE:CVX) Shares Sold by 1834 Investment Advisors Co.

Key Points

• 1834 Investment Advisors Co. has reduced its holdings in Chevron by 33.7% to 19,895 shares, worth approximately $3.33 million.
• Despite some institutional investors increasing their positions, Chevron's current average stock rating is "Hold," with a price target range from $124.00 to $186.00.
• C Chevron reported a 12.4% decrease in quarterly revenue compared to the previous year, but exceeded earnings expectations with $1.77 EPS.

1834 Investment Advisors Co. decreased its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 33.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,895 shares of the oil and gas company's stock after selling 10,102 shares during the quarter. 1834 Investment Advisors Co.'s holdings in Chevron were worth $3,328,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in 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. Charles Schwab Investment Management Inc. grew its holdings in shares of Chevron by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock valued at $5,592,263,000 after purchasing an additional 1,574,464 shares in the last quarter. Capital World Investors grew its holdings in shares of Chevron by 11.4% in the fourth quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock valued at $2,039,288,000 after purchasing an additional 1,440,808 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Chevron by 7.3% in the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock valued at $2,965,135,000 after purchasing an additional 1,394,091 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Chevron by 27.3% in the fourth quarter. Janus Henderson Group PLC now owns 3,897,183 shares of the oil and gas company's stock valued at $564,503,000 after purchasing an additional 835,990 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Performance

NYSE:CVX traded up $1.82 during trading hours on Friday, reaching $154.98. 6,331,417 shares of the company's stock were exchanged, compared to its average volume of 12,388,930. The firm has a market capitalization of $270.66 billion, a price-to-earnings ratio of 19.95, a P/E/G ratio of 2.30 and a beta of 0.87. The company has a 50-day moving average of $148.45 and a 200 day moving average of $148.63. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.80%. The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the prior year, the firm earned $2.55 earnings per share. The business's quarterly revenue was down 12.4% compared to the same quarter last year. Research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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

Wall Street Analyst Weigh In

CVX has been the subject of several research reports. Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Wells Fargo & Company reissued an "overweight" rating and set a $178.00 price objective on shares of Chevron in a research report on Friday, August 1st. DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target for the company. in a report on Tuesday, May 6th. BNP Paribas cut shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Finally, Mizuho lowered their price target on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Chevron currently has an average rating of "Hold" and a consensus price target of $164.11.

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.