Chevron Corporation (NYSE:CVX) Shares Sold by HM Payson & Co.

HM Payson & Co. trimmed its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 7.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 211,420 shares of the oil and gas company's stock after selling 16,462 shares during the period. HM Payson & Co.'s holdings in Chevron were worth $35,368,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in CVX. IMG Wealth Management Inc. acquired a new stake in shares of Chevron during the 4th quarter worth about $25,000. Life Planning Partners Inc acquired a new stake in shares of Chevron during the 4th quarter worth about $25,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron during the 4th quarter worth about $29,000. 10Elms LLP acquired a new stake in shares of Chevron during the 4th quarter worth about $29,000. Finally, Fairway Wealth LLC boosted its stake in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 88 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. DZ Bank cut shares of 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. Piper Sandler boosted their target price on shares of Chevron from $162.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday. HSBC downgraded 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 report on Tuesday, May 13th. Barclays downgraded shares of Chevron from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Finally, Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $160.41.

Chevron Stock Performance

Shares of CVX traded up $0.25 during mid-day trading on Friday, hitting $148.23. The stock had a trading volume of 5,173,309 shares, compared to its average volume of 8,281,546. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The company has a market cap of $258.86 billion, a PE ratio of 15.95, a PEG ratio of 2.51 and a beta of 0.83. The company's fifty day simple moving average is $141.16 and its two-hundred day simple moving average is $148.07.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter in the previous year, the company posted $2.93 earnings per share. The firm's revenue was down 2.3% on a year-over-year basis. On average, equities analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.61%. Chevron's dividend payout ratio (DPR) is 78.17%.

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.