Chevron Corporation (NYSE:CVX) Shares Sold by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC decreased its stake in Chevron Corporation by 20.8%, holding 30,583 shares worth approximately $5.1 million after selling 8,009 shares.
• Chevron recently announced a quarterly dividend of $1.71 per share, representing an annual yield of 4.5% and a dividend payout ratio of 88.03%.
• Analysts have mixed ratings on Chevron, with three recommending a sell, six a hold, and eleven a buy, while the average target price is set at $164.11.

New Age Alpha Advisors LLC cut its stake in Chevron Corporation (NYSE:CVX - Free Report) by 20.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,583 shares of the oil and gas company's stock after selling 8,009 shares during the period. New Age Alpha Advisors LLC's holdings in Chevron were worth $5,116,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CVX. Eagle Capital Management LLC raised its holdings in Chevron by 0.7% in 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 acquiring an additional 242 shares in the last quarter. Bank Pictet & Cie Europe AG increased its stake in Chevron by 7.9% during 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 last quarter. FMR LLC increased its stake in Chevron by 7.9% during the fourth quarter. FMR LLC now owns 3,866,447 shares of the oil and gas company's stock valued at $560,016,000 after purchasing an additional 281,784 shares during the last quarter. Shelton Capital Management increased its stake in Chevron by 12.3% during the fourth quarter. Shelton Capital Management now owns 81,429 shares of the oil and gas company's stock valued at $11,794,000 after purchasing an additional 8,921 shares during the last quarter. Finally, FIL Ltd increased its stake in Chevron by 538.6% during the fourth quarter. FIL Ltd now owns 378,736 shares of the oil and gas company's stock valued at $54,856,000 after purchasing an additional 319,425 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the stock. HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and lowered their target price for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Raymond James Financial reiterated an "outperform" rating on shares of Chevron in a research report on Friday. Mizuho decreased their target price 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. Evercore ISI reiterated an "outperform" rating and issued a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Finally, Piper Sandler reiterated an "overweight" rating on shares of Chevron in a research report on Tuesday, July 15th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $164.11.

Chevron Price Performance

CVX stock opened at $152.80 on Wednesday. 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 one year low of $132.04 and a one year high of $168.96. The firm has a market capitalization of $266.85 billion, a PE ratio of 19.67, a P/E/G ratio of 2.30 and a beta of 0.87. The firm has a 50-day moving average of $147.44 and a two-hundred day moving average of $148.68.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.80% and a net margin of 7.02%. The firm's quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.55 EPS. On average, analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be issued a $1.71 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. Chevron's dividend payout ratio is currently 88.03%.

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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