Cambridge Investment Research Advisors Inc. Has $78.89 Million Stock Holdings in Chevron Corporation (NYSE:CVX)

Cambridge Investment Research Advisors Inc. lessened its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 471,562 shares of the oil and gas company's stock after selling 4,601 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Chevron were worth $78,888,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Sage Capital Advisors llc increased its position in Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock worth $7,097,000 after buying an additional 919 shares during the period. CCG Wealth Management LLC increased its position in 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 acquiring an additional 145 shares during the period. Pines Wealth Management LLC increased its position in Chevron by 3.3% during the first quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company's stock worth $1,306,000 after acquiring an additional 253 shares during the period. Viking Fund Management LLC raised its stake in Chevron by 9.3% during the 1st quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company's stock valued at $19,573,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Allianz SE bought a new stake in Chevron in the 4th quarter valued at $9,369,000. Institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

CVX has been the topic of several research reports. Scotiabank downgraded shares of Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Wells Fargo & Company cut their price target on Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a report on Monday, May 5th. TD Cowen decreased 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. UBS Group lowered their price objective on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Finally, Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $160.24.

Chevron Price Performance

Shares of NYSE CVX traded down $3.20 during mid-day trading on Tuesday, hitting $143.67. 10,765,235 shares of the stock were exchanged, compared to its average volume of 8,251,705. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The stock's fifty day simple moving average is $139.78 and its two-hundred day simple moving average is $148.49. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The company has a market cap of $250.90 billion, a P/E ratio of 16.42, a PEG ratio of 2.58 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 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 for the quarter, compared to analyst estimates of $49.05 billion. During the same period in the prior year, the company earned $2.93 EPS. Chevron's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.76%. Chevron's dividend payout ratio is 78.17%.

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.