Chevron Co. (NYSE:CVX) Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC lessened its position in Chevron Co. (NYSE:CVX - Free Report) by 1.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 734,333 shares of the oil and gas company's stock after selling 10,546 shares during the period. Chevron makes up about 1.8% of Confluence Investment Management LLC's holdings, making the stock its 19th largest position. Confluence Investment Management LLC's holdings in Chevron were worth $122,847,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital & Planning LLC grew its position in Chevron by 15.2% during the fourth quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company's stock valued at $243,000 after buying an additional 222 shares during the period. Eagle Capital Management LLC lifted its holdings in Chevron by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after purchasing an additional 242 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Chevron during the fourth quarter valued at about $8,947,000. Cornell Pochily Investment Advisors Inc. lifted its holdings in Chevron by 0.7% during the fourth quarter. Cornell Pochily Investment Advisors Inc. now owns 13,003 shares of the oil and gas company's stock valued at $1,883,000 after purchasing an additional 92 shares during the last quarter. Finally, Heirloom Wealth Management lifted its holdings in Chevron by 3.4% during the fourth quarter. Heirloom Wealth Management now owns 2,766 shares of the oil and gas company's stock valued at $401,000 after purchasing an additional 90 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Trading Down 1.1%

NYSE:CVX traded down $1.48 during mid-day trading on Friday, hitting $136.43. 12,856,437 shares of the stock traded hands, compared to its average volume of 8,115,075. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The firm's 50 day moving average is $142.47 and its two-hundred day moving average is $150.70. The stock has a market capitalization of $238.26 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.46 and a beta of 0.83. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter last year, the firm posted $2.93 EPS. The firm's revenue was down 2.3% compared to the same quarter last year. On average, equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date is Monday, May 19th. Chevron's payout ratio is currently 78.17%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a report on Tuesday, May 6th. Redburn Atlantic reissued a "sell" rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Wells Fargo & Company lowered their price target on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Barclays downgraded shares of Chevron from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Finally, UBS Group lowered their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Three research 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. According to data from MarketBeat, Chevron has an average rating of "Hold" and an average 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.