Chevron Corporation (NYSE:CVX) Shares Sold by Janney Capital Management LLC

Janney Capital Management LLC cut its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 2.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 112,969 shares of the oil and gas company's stock after selling 3,253 shares during the period. Chevron comprises about 1.3% of Janney Capital Management LLC's holdings, making the stock its 14th biggest holding. Janney Capital Management LLC's holdings in Chevron were worth $18,899,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. acquired a new position in Chevron during the fourth quarter worth $25,000. Life Planning Partners Inc acquired a new position in Chevron during the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron during the fourth quarter worth $29,000. 10Elms LLP acquired a new position in Chevron during the fourth quarter worth $29,000. Finally, Fairway Wealth LLC raised its position in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after acquiring an additional 88 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CVX shares. Mizuho reduced 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. Redburn Atlantic reiterated a "sell" rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. TD Cowen reduced their target price 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. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, BNP Paribas cut shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $160.24.

Chevron Price Performance

Chevron stock opened at $148.18 on Thursday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The stock has a market cap of $258.78 billion, a P/E ratio of 16.93, a PEG ratio of 2.61 and a beta of 0.83. The company has a 50-day moving average price of $138.82 and a 200 day moving average price of $148.90. 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 (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same period last year, the business earned $2.93 earnings per share. Chevron's revenue was down 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

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

Chevron 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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