Chevron Corporation (NYSE:CVX) Shares Sold by Trifecta Capital Advisors LLC

Trifecta Capital Advisors LLC lessened its position in Chevron Corporation (NYSE:CVX - Free Report) by 85.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,691 shares of the oil and gas company's stock after selling 21,908 shares during the period. Trifecta Capital Advisors LLC's holdings in Chevron were worth $617,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Capital & Planning LLC grew its position in Chevron by 15.2% during the fourth quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company's stock valued at $243,000 after acquiring an additional 222 shares during the period. Eagle Capital Management LLC lifted its stake in shares of 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 worth $5,011,000 after acquiring an additional 242 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Chevron during the fourth quarter valued at approximately $8,947,000. Bank Pictet & Cie Europe AG raised 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 buying an additional 2,641 shares in the last quarter. Finally, Strategic Financial Concepts LLC raised its stake in Chevron by 212.4% during the fourth quarter. Strategic Financial Concepts LLC now owns 5,352 shares of the oil and gas company's stock valued at $775,000 after buying an additional 3,639 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of NYSE:CVX opened at $148.18 on Friday. 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 1 year low of $132.04 and a 1 year high of $168.96. The business has a fifty day simple moving average of $139.09 and a 200 day simple moving average of $148.81. The firm has a market cap of $258.78 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 2.60 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last posted 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. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period last year, the company earned $2.93 earnings per share. The business's revenue was down 2.3% compared to the same quarter last year. 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 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. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.62%. Chevron's dividend payout ratio is presently 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research reports. Redburn Atlantic reiterated a "sell" rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. TD Cowen decreased their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a report on Monday, May 5th. Scotiabank lowered Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the company from $160.00 to $143.00 in a research note on Friday, April 11th. BNP Paribas downgraded Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Finally, Mizuho cut their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Chevron presently has a consensus rating of "Hold" and a consensus target price of $160.24.

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.

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