CSM Advisors LLC Sells 1,630 Shares of Chevron Corporation $CVX

Key Points

• CSM Advisors LLC has decreased its stake in Chevron Corporation by 1.5%, selling 1,630 shares in the first quarter, and now holds 105,936 shares valued at approximately $17.72 million.
• Wall Street analysts have mixed opinions on Chevron, with eleven analysts rating it as a Buy and the average target price currently set at $163.95, while HSBC downgraded its rating from Buy to Hold.
• Chevron announced a quarterly dividend of $1.71 per share, translating to an annualized dividend yield of 4.3%, indicating a strong return for shareholders.

CSM Advisors LLC reduced its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 105,936 shares of the oil and gas company's stock after selling 1,630 shares during the quarter. Chevron comprises 1.0% of CSM Advisors LLC's holdings, making the stock its 22nd largest holding. CSM Advisors LLC's holdings in Chevron were worth $17,722,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Eagle Capital Management LLC increased its holdings in shares of 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 acquiring an additional 242 shares in 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 worth $5,212,000 after buying an additional 2,641 shares in the last quarter. Nebula Research & Development LLC grew its holdings in Chevron by 127.8% during the fourth quarter. Nebula Research & Development LLC now owns 9,208 shares of the oil and gas company's stock worth $1,334,000 after buying an additional 5,165 shares in the last quarter. Prosperity Consulting Group LLC grew its holdings in Chevron by 6.0% during the fourth quarter. Prosperity Consulting Group LLC now owns 12,067 shares of the oil and gas company's stock worth $1,748,000 after buying an additional 684 shares in the last quarter. Finally, Gerber Kawasaki Wealth & Investment Management grew its holdings in Chevron by 5.7% during the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 4,865 shares of the oil and gas company's stock worth $705,000 after buying an additional 263 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. HSBC downgraded Chevron from a "buy" rating to a "hold" rating and decreased their price target for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Morgan Stanley assumed coverage on Chevron in a report on Monday, August 4th. They set an "overweight" rating and a $174.00 price target for the company. Wells Fargo & Company reiterated an "overweight" rating and set a $178.00 price target on shares of Chevron in a report on Friday, August 1st. Scotiabank reiterated a "sector perform" rating and set a $160.00 price target (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. Finally, UBS Group upped their price target on Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Chevron presently has an average rating of "Hold" and an average target price of $163.95.

Chevron Stock Up 1.5%

CVX stock opened at $157.8970 on Monday. The stock's fifty day simple moving average is $151.21 and its two-hundred day simple moving average is $148.61. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The stock has a market cap of $272.84 billion, a P/E ratio of 20.32, a P/E/G ratio of 2.35 and a beta of 0.87.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion for the quarter, compared to analysts' expectations of $44.59 billion. During the same quarter in the previous year, the firm earned $2.55 earnings per share. The business's revenue was down 12.4% on a year-over-year basis. Analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. Chevron's dividend payout ratio is 88.03%.

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.

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