EverSource Wealth Advisors LLC Decreases Stock Holdings in Chevron Corporation $CVX

Key Points

• EverSource Wealth Advisors LLC has reduced its position in Cheron Corporation by 2.6%, holding 65,400 shares valued at approximately $10.94 million.
• Analysts have mixed views on Chevron, with three issuers recommending a sell rating, while a majority maintain a hold or buy rating, reflecting a consensus rating of "Hold".
• Chevron recently announced a quarterly dividend of $1.71 per share, representing an annualized yield of 4.4% and a payout ratio of 88.03%.

EverSource Wealth Advisors LLC cut its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 2.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 65,400 shares of the oil and gas company's stock after selling 1,741 shares during the period. EverSource Wealth Advisors LLC's holdings in Chevron were worth $10,941,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Eagle Capital Management LLC grew its position in shares of Chevron by 0.7% in 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 period. Bank Pictet & Cie Europe AG boosted its holdings in Chevron by 7.9% in the 4th 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 during the last quarter. Evergreen Capital Management LLC increased its stake in Chevron by 7.0% during the 4th quarter. Evergreen Capital Management LLC now owns 38,392 shares of the oil and gas company's stock worth $5,561,000 after buying an additional 2,520 shares in the last quarter. Wasatch Advisors LP raised its holdings in shares of Chevron by 3.9% during the fourth quarter. Wasatch Advisors LP now owns 21,511 shares of the oil and gas company's stock valued at $3,116,000 after acquiring an additional 800 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Chevron by 236,330.0% in the fourth quarter. Marshall Wace LLP now owns 236,430 shares of the oil and gas company's stock valued at $34,245,000 after acquiring an additional 236,330 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Trading Down 0.7%

NYSE:CVX traded down $1.03 on Tuesday, reaching $152.58. 2,554,165 shares of the company's stock were exchanged, compared to its average volume of 9,334,392. The business has a fifty day moving average of $150.42 and a 200-day moving average of $148.53. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The firm has a market capitalization of $263.66 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 2.35 and a beta of 0.87.

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

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron's payout ratio is presently 88.03%.

Analysts Set New Price Targets

Several research analysts recently commented on CVX shares. DZ Bank downgraded Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a research note on Tuesday, May 6th. Barclays reiterated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. UBS Group reaffirmed a "buy" rating and set a $186.00 price objective (up previously from $177.00) on shares of Chevron in a research note on Monday, August 4th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Chevron in a report on Friday, July 18th. Finally, Mizuho lowered their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Eleven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $164.33.

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.