Clg LLC Lowers Stock Holdings in Chevron Corporation (NYSE:CVX)

Clg LLC trimmed its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 4.9% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 181,321 shares of the oil and gas company's stock after selling 9,439 shares during the quarter. Chevron comprises approximately 10.5% of Clg LLC's portfolio, making the stock its 2nd biggest position. Clg LLC's holdings in Chevron were worth $30,333,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. IMG Wealth Management Inc. bought a new stake in shares of Chevron in the fourth quarter worth $25,000. Life Planning Partners Inc purchased a new position in Chevron in the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron during the 4th quarter valued at about $29,000. 10Elms LLP purchased a new stake in shares of Chevron during the 4th quarter valued at about $29,000. Finally, Fairway Wealth LLC lifted its stake in shares of Chevron by 75.9% in 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 period. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CVX has been the subject of several recent research reports. Wells Fargo & Company cut their target price on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. BNP Paribas cut shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Barclays lowered Chevron from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. UBS Group lowered their target price on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Finally, Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Chevron has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Stock Down 0.4%

NYSE CVX opened at $148.18 on Friday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The stock has a market cap of $258.78 billion, a PE ratio of 16.93, a P/E/G ratio of 2.60 and a beta of 0.83. The stock's 50 day moving average is $139.09 and its 200 day moving average is $148.81.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating 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 quarter last year, the business posted $2.93 earnings per share. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. Research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business 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 annualized dividend and a yield of 4.62%. The ex-dividend date was Monday, May 19th. Chevron's payout ratio is currently 78.17%.

Chevron 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.

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.