Csenge Advisory Group Cuts Stock Position in Chevron Corporation (NYSE:CVX)

Csenge Advisory Group lessened its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 9.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,172 shares of the oil and gas company's stock after selling 3,017 shares during the period. Csenge Advisory Group's holdings in Chevron were worth $4,713,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CVX. Geode Capital Management LLC grew its holdings in shares of Chevron by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock worth $5,247,142,000 after purchasing an additional 392,916 shares during the last quarter. Norges Bank purchased a new stake in shares of Chevron during the fourth quarter valued at about $3,017,750,000. Northern Trust Corp lifted its position in shares of Chevron by 7.3% during 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 buying an additional 1,394,091 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Chevron by 0.5% during the fourth quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company's stock valued at $2,502,850,000 after buying an additional 79,917 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Chevron by 1.3% during the fourth quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company's stock valued at $2,421,564,000 after buying an additional 211,023 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Price Performance

CVX stock traded down $1.59 during midday trading on Friday, reaching $149.79. The stock had a trading volume of 45,762,307 shares, compared to its average volume of 8,549,393. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. 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's fifty day simple moving average is $144.04 and its 200 day simple moving average is $148.67. The company has a market cap of $261.59 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 2.45 and a beta of 0.83.

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

Chevron Dividend Announcement

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. This represents a $6.84 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio (DPR) is 78.17%.

Analyst Upgrades and Downgrades

CVX has been the subject of several research analyst reports. TD Cowen decreased their price objective 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. Mizuho decreased their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Piper Sandler reissued an "overweight" rating on shares of Chevron in a research report on Tuesday. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Chevron in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $161.31.

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.