Chevron Corporation (NYSE:CVX) Shares Sold by Cantor Fitzgerald Investment Advisors L.P.

Cantor Fitzgerald Investment Advisors L.P. cut its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 11.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 102,383 shares of the oil and gas company's stock after selling 13,041 shares during the period. Chevron accounts for about 1.2% of Cantor Fitzgerald Investment Advisors L.P.'s portfolio, making the stock its 22nd largest holding. Cantor Fitzgerald Investment Advisors L.P.'s holdings in Chevron were worth $17,128,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Chevron in the fourth quarter valued at about $3,017,750,000. Raymond James Financial Inc. purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $1,036,302,000. GAMMA Investing LLC lifted its holdings in shares of 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 worth $904,746,000 after acquiring an additional 5,382,847 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Chevron by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock worth $2,389,380,000 after acquiring an additional 2,432,756 shares during the last quarter. Finally, Amundi boosted its position in shares of Chevron by 27.7% during the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock worth $1,323,549,000 after purchasing an additional 1,910,262 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Down 0.4%

CVX stock opened at $148.18 on Friday. The stock has a market cap of $258.78 billion, a P/E ratio of 16.93, a PEG ratio of 2.60 and a beta of 0.83. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company's 50 day moving average is $139.09 and its two-hundred day moving average is $148.81.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. Chevron's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.93 earnings per share. Research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.62%. Chevron's dividend payout ratio (DPR) is presently 78.17%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CVX. Mizuho dropped their target price on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. TD Cowen decreased their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Piper Sandler dropped their price target on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, BNP Paribas lowered Chevron to a "cautious" rating in a report on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Chevron has an average rating of "Hold" and an average price target of $160.24.

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.

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