CX Institutional Sells 7,681 Shares of Chevron Co. (NYSE:CVX)

CX Institutional lessened its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 13.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,676 shares of the oil and gas company's stock after selling 7,681 shares during the period. CX Institutional's holdings in Chevron were worth $8,310,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Sage Capital Advisors llc boosted its stake in Chevron by 2.2% during the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after purchasing an additional 919 shares during the last quarter. Viking Fund Management LLC boosted its stake in Chevron by 9.3% during the 1st quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company's stock valued at $19,573,000 after purchasing an additional 10,000 shares during the last quarter. Pines Wealth Management LLC boosted its stake in Chevron by 3.3% during the 1st quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company's stock valued at $1,306,000 after purchasing an additional 253 shares during the last quarter. Allianz SE purchased a new stake in Chevron during the 4th quarter valued at $9,369,000. Finally, Nicholas Company Inc. boosted its stake in Chevron by 4.3% during the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock valued at $11,591,000 after purchasing an additional 3,280 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Price Performance

NYSE:CVX traded up $0.12 on Thursday, reaching $144.90. 6,989,778 shares of the company's stock traded hands, compared to its average volume of 8,142,652. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a 50-day simple moving average of $138.35 and a 200-day simple moving average of $149.32. The firm has a market cap of $253.05 billion, a PE ratio of 14.91, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96.

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, beating analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business's quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the firm earned $2.93 earnings per share. Equities research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.72%. Chevron's dividend payout ratio is presently 78.17%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Redburn Atlantic restated a "sell" rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. HSBC downgraded Chevron from a "buy" rating to a "hold" rating and dropped their price target for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Scotiabank downgraded Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their price target for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Finally, DZ Bank downgraded Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a research note on Tuesday, May 6th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Chevron presently has a consensus rating of "Hold" and a consensus target price of $160.24.

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.