Chevron Corporation (NYSE:CVX) Stake Decreased by Means Investment CO. Inc.

Means Investment CO. Inc. lessened its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 23.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,885 shares of the oil and gas company's stock after selling 12,880 shares during the period. Chevron accounts for about 0.7% of Means Investment CO. Inc.'s investment portfolio, making the stock its 23rd biggest holding. Means Investment CO. Inc.'s holdings in Chevron were worth $7,007,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Walter & Keenan Wealth Management LLC IN ADV raised its holdings in shares of Chevron by 3.7% during the first quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 8,310 shares of the oil and gas company's stock valued at $1,390,000 after buying an additional 295 shares during the last quarter. DecisionMap Wealth Management LLC raised its holdings in Chevron by 13.2% during the first quarter. DecisionMap Wealth Management LLC now owns 1,924 shares of the oil and gas company's stock worth $322,000 after purchasing an additional 225 shares in the last quarter. Blue Trust Inc. raised its holdings in Chevron by 6.2% during the first quarter. Blue Trust Inc. now owns 42,842 shares of the oil and gas company's stock worth $7,167,000 after purchasing an additional 2,491 shares in the last quarter. Curran Financial Partners LLC raised its holdings in Chevron by 1.3% during the first quarter. Curran Financial Partners LLC now owns 6,683 shares of the oil and gas company's stock worth $1,118,000 after purchasing an additional 87 shares in the last quarter. Finally, Silver Oak Securities Incorporated raised its holdings in Chevron by 5.4% during the first quarter. Silver Oak Securities Incorporated now owns 8,086 shares of the oil and gas company's stock worth $1,343,000 after purchasing an additional 416 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Trading Down 0.4%

NYSE CVX opened at $148.18 on Friday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. 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 stock has a market cap of $258.78 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 2.60 and a beta of 0.83. The firm's 50 day moving average price is $139.09 and its two-hundred day moving average price is $148.81.

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 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 for the quarter, compared to analysts' expectations of $49.05 billion. During the same period in the previous year, the company posted $2.93 EPS. The company's quarterly revenue was down 2.3% compared to the same quarter last year. Equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 was Monday, May 19th. Chevron's payout ratio is 78.17%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. BNP Paribas cut Chevron to a "cautious" rating in a report on Tuesday, April 15th. Mizuho dropped their target price on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Barclays cut Chevron from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. HSBC cut Chevron from a "buy" rating to a "hold" rating and dropped their target price for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Finally, TD Cowen decreased their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Chevron presently has an average rating of "Hold" and a consensus price target of $160.24.

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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