Focused Wealth Management Inc Trims Holdings in Chevron Corporation (NYSE:CVX)

Focused Wealth Management Inc lessened its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 56.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,778 shares of the oil and gas company's stock after selling 2,337 shares during the period. Focused Wealth Management Inc's holdings in Chevron were worth $297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Eagle Capital Management LLC grew its position in Chevron by 0.7% during 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 buying an additional 242 shares during the period. Bank Pictet & Cie Europe AG grew its position in shares of Chevron by 7.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock valued at $5,212,000 after purchasing an additional 2,641 shares during the period. Proficio Capital Partners LLC grew its position in shares of Chevron by 59.5% in the fourth quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company's stock valued at $847,000 after purchasing an additional 2,182 shares during the period. Atala Financial Inc acquired a new stake in shares of Chevron in the fourth quarter valued at about $325,000. Finally, King Wealth Management Group grew its position in shares of Chevron by 22.5% in the fourth quarter. King Wealth Management Group now owns 13,574 shares of the oil and gas company's stock valued at $1,966,000 after purchasing an additional 2,494 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Trading Up 0.8%

CVX stock traded up $1.21 during trading on Friday, reaching $155.38. 8,332,244 shares of the stock were exchanged, compared to its average volume of 8,352,057. 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 business has a 50 day moving average price of $142.62 and a 200-day moving average price of $148.41. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a market capitalization of $271.35 billion, a price-to-earnings ratio of 17.76, a P/E/G ratio of 2.61 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last issued its 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 net margin of 7.76% and a return on equity of 10.73%. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the previous year, the firm earned $2.93 earnings per share. Chevron's quarterly revenue was down 2.3% compared to the same quarter last year. On average, research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a dividend of $1.71 per share. 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 presently 78.17%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVX. Mizuho dropped their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Scotiabank lifted their target price on shares of Chevron from $143.00 to $160.00 and gave the company a "sector perform" rating in a research report on Friday. Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Redburn Atlantic reiterated a "sell" rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $165.00 target price (up previously from $164.00) on shares of Chevron in a research report on Thursday, June 26th. 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $161.65.

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.