Alps Advisors Inc. Reduces Stake in Chevron Corporation (NYSE:CVX)

Alps Advisors Inc. cut its position in Chevron Corporation (NYSE:CVX - Free Report) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 153,853 shares of the oil and gas company's stock after selling 3,591 shares during the period. Alps Advisors Inc.'s holdings in Chevron were worth $25,738,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Eagle Capital Management LLC boosted its holdings in Chevron by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after purchasing an additional 242 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of Chevron by 7.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock worth $5,212,000 after buying an additional 2,641 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Chevron by 59.5% in the 4th quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company's stock valued at $847,000 after buying an additional 2,182 shares in the last quarter. Inspire Advisors LLC grew its position in shares of Chevron by 8.1% in the 4th quarter. Inspire Advisors LLC now owns 4,499 shares of the oil and gas company's stock valued at $652,000 after buying an additional 338 shares during the last quarter. Finally, Prosperity Financial Group Inc. grew its position in shares of Chevron by 6.2% in the 4th quarter. Prosperity Financial Group Inc. now owns 3,908 shares of the oil and gas company's stock valued at $566,000 after buying an additional 227 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of NYSE:CVX traded up $1.21 during midday trading on Friday, hitting $155.38. The stock had a trading volume of 8,332,244 shares, compared to its average volume of 8,359,711. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $271.35 billion, a PE ratio of 17.76, a P/E/G ratio of 2.63 and a beta of 0.83. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The stock has a 50 day moving average price of $142.62 and a two-hundred day moving average price of $148.47.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the prior year, the business posted $2.93 EPS. The company's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio (DPR) is currently 78.17%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. TD Cowen dropped their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a report on Monday, May 5th. HSBC downgraded Chevron from a "buy" rating to a "hold" rating and dropped their price target for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. BNP Paribas cut Chevron to a "cautious" rating in a research note on Tuesday, April 15th. UBS Group lowered their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $165.00 target price (up from $164.00) on shares of Chevron in a report on Thursday, June 26th. Three 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $161.65.

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.