Chevron Corporation (NYSE:CVX) Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. reduced its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 24.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,961 shares of the oil and gas company's stock after selling 9,600 shares during the period. Pekin Hardy Strauss Inc.'s holdings in Chevron were worth $4,845,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. IMG Wealth Management Inc. acquired a new position in Chevron in the fourth quarter valued at approximately $25,000. Life Planning Partners Inc acquired a new position in Chevron in the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron in the fourth quarter valued at approximately $29,000. 10Elms LLP acquired a new position in Chevron in the fourth quarter valued at approximately $29,000. Finally, Fairway Wealth LLC lifted its holdings in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after acquiring an additional 88 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 0.7%

Shares of Chevron stock traded down $0.97 during trading hours on Monday, reaching $147.40. 9,459,288 shares of the company were exchanged, compared to its average volume of 8,286,464. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The stock's fifty day moving average is $141.16 and its 200 day moving average is $148.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The firm has a market cap of $257.42 billion, a PE ratio of 16.85, a PEG ratio of 2.51 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company's revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.93 earnings per share. As a group, equities research analysts forecast 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. Investors of record on Monday, May 19th were paid a dividend of $1.71 per share. 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 4.64%. Chevron's payout ratio is currently 78.17%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CVX. HSBC cut Chevron from a "buy" rating to a "hold" rating and decreased their price objective for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Scotiabank lowered Chevron from a "sector outperform" rating to a "sector perform" rating and cut their target price for the company from $160.00 to $143.00 in a research report on Friday, April 11th. BNP Paribas lowered Chevron to a "cautious" rating in a research report on Tuesday, April 15th. TD Cowen cut their target price on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Finally, DZ Bank lowered Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a research report on Tuesday, May 6th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $160.65.

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.