Burling Wealth Partners LLC Reduces Holdings in Chevron Corporation (NYSE:CVX)

Burling Wealth Partners LLC decreased its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 12.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,322 shares of the oil and gas company's stock after selling 2,056 shares during the quarter. Burling Wealth Partners LLC's holdings in Chevron were worth $2,396,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Mystic Asset Management Inc. increased its stake in Chevron by 0.4% during the 1st quarter. Mystic Asset Management Inc. now owns 22,710 shares of the oil and gas company's stock worth $3,799,000 after buying an additional 88 shares in the last quarter. Acas LLC purchased a new stake in Chevron during the 1st quarter worth approximately $364,000. Richard C. Young & CO. LTD. increased its stake in Chevron by 0.5% during the 1st quarter. Richard C. Young & CO. LTD. now owns 102,433 shares of the oil and gas company's stock worth $17,136,000 after buying an additional 523 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in Chevron by 8.7% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 564,140 shares of the oil and gas company's stock worth $94,375,000 after buying an additional 44,940 shares in the last quarter. Finally, Asset Advisors Investment Management LLC increased its stake in Chevron by 4.0% during the 1st quarter. Asset Advisors Investment Management LLC now owns 2,910 shares of the oil and gas company's stock worth $487,000 after buying an additional 111 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Down 1.1%

Shares of NYSE CVX traded down $1.59 during mid-day trading on Friday, hitting $149.79. The company had a trading volume of 45,762,307 shares, compared to its average volume of 8,533,068. The company has a market capitalization of $261.59 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 2.45 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The business's 50-day simple moving average is $143.81 and its 200 day simple moving average is $148.61.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $49.05 billion. During the same period last year, the firm earned $2.93 earnings per share. Chevron's quarterly revenue was down 2.3% on a year-over-year basis. On average, analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio is presently 78.17%.

Analysts Set New Price Targets

CVX has been the subject of a number of analyst reports. Redburn Atlantic restated a "sell" rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Mizuho dropped their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a research report on Friday. Finally, Barclays reiterated an "equal weight" rating on shares of Chevron in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron has an average rating of "Hold" and an average target price of $161.31.

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.