Clarus Group Inc. Sells 2,313 Shares of Chevron Corporation (NYSE:CVX)

Clarus Group Inc. trimmed its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 14.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,870 shares of the oil and gas company's stock after selling 2,313 shares during the quarter. Chevron accounts for about 0.9% of Clarus Group Inc.'s holdings, making the stock its 18th largest position. Clarus Group Inc.'s holdings in Chevron were worth $2,320,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Eagle Capital Management LLC increased its stake in shares of Chevron by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock worth $5,011,000 after purchasing an additional 242 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings 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 purchasing an additional 2,641 shares during the period. SVB Wealth LLC purchased a new stake in Chevron in the fourth quarter worth $17,050,000. Sage Investment Counsel LLC bought a new stake in shares of Chevron in the fourth quarter valued at $218,000. Finally, Maple Capital Management Inc. raised its stake in shares of Chevron by 2.8% in the fourth quarter. Maple Capital Management Inc. now owns 158,623 shares of the oil and gas company's stock valued at $22,975,000 after buying an additional 4,307 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CVX has been the subject of several research reports. Scotiabank downgraded Chevron from a "sector outperform" rating to a "sector perform" rating and cut their price target for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. TD Cowen cut their target price on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a research note on Tuesday, May 6th. Wells Fargo & Company restated an "overweight" rating and set a $165.00 price target (up from $164.00) on shares of Chevron in a research note on Thursday. Finally, Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $160.29.

Chevron Price Performance

NYSE:CVX opened at $143.87 on Friday. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The stock has a fifty day moving average of $140.20 and a 200 day moving average of $148.22. 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 firm has a market capitalization of $251.26 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 2.52 and a beta of 0.83.

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 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 firm had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. During the same quarter last year, the firm posted $2.93 EPS. The company's 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 fiscal year.

Chevron Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.75%. Chevron's payout ratio is presently 78.17%.

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.

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.