Burney Co. Sells 2,612 Shares of Chevron Corporation (NYSE:CVX)

Burney Co. lowered its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 7.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 31,453 shares of the oil and gas company's stock after selling 2,612 shares during the period. Burney Co.'s holdings in Chevron were worth $5,262,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Uptown Financial Advisors LLC bought a new position in Chevron in the 1st quarter worth about $225,000. W.G. Shaheen & Associates DBA Whitney & Co grew its holdings in Chevron by 3.8% in the 1st quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 32,090 shares of the oil and gas company's stock worth $5,368,000 after buying an additional 1,175 shares in the last quarter. Delaney Dennis R grew its holdings in Chevron by 0.4% in the 1st quarter. Delaney Dennis R now owns 21,632 shares of the oil and gas company's stock worth $3,619,000 after buying an additional 80 shares in the last quarter. J. W. Coons Advisors LLC grew its stake in shares of Chevron by 7.3% in the first quarter. J. W. Coons Advisors LLC now owns 7,613 shares of the oil and gas company's stock worth $1,274,000 after purchasing an additional 516 shares in the last quarter. Finally, Triumph Capital Management bought a new position in shares of Chevron in the first quarter worth $264,000. Institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

Shares of NYSE CVX traded down $1.00 during trading hours on Friday, hitting $154.84. 7,872,671 shares of the stock were exchanged, compared to its average volume of 12,051,790. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The company's 50 day moving average is $145.12 and its 200 day moving average is $148.82. The firm has a market capitalization of $270.40 billion, a P/E ratio of 17.70, a P/E/G ratio of 2.44 and a beta of 0.83. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating 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 company had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same period in the prior year, the company earned $2.93 earnings per share. The business's quarterly revenue was down 2.3% compared to the same quarter last year. On average, research analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.42%. Chevron's dividend payout ratio is 78.17%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CVX shares. Barclays reiterated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. UBS Group decreased their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. TD Cowen dropped their target price 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. Redburn Atlantic reiterated a "sell" rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, HSBC downgraded Chevron from a "buy" rating to a "hold" rating and lowered their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $162.13.

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.