Fischer Financial Services Inc. Reduces Position in Chevron Corporation (NYSE:CVX)

Key Points

• Fischer Financial Services Inc. reduced its stake in Chevron Corporation by 20.7%, selling 1,914 shares and now holding a total of 7,336 shares valued at approximately $1,227,000.
• Recent analyst ratings for Chevron have shown a mix of perspectives, with three analysts
• Chevron announced a quarterly dividend of $1.71 per share, resulting in an annualized dividend of $6.84 and a dividend yield of 4.39%.

Fischer Financial Services Inc. reduced its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 20.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,336 shares of the oil and gas company's stock after selling 1,914 shares during the quarter. Fischer Financial Services Inc.'s holdings in Chevron were worth $1,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Eagle Capital Management LLC increased its holdings in shares of Chevron by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock worth $5,011,000 after buying an additional 242 shares during the last quarter. Bank Pictet & Cie Europe AG grew its position in Chevron by 7.9% in 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 acquiring an additional 2,641 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in Chevron during the fourth quarter worth approximately $66,000. Financial Engines Advisors L.L.C. increased its stake in Chevron by 40.7% during the fourth quarter. Financial Engines Advisors L.L.C. now owns 9,447 shares of the oil and gas company's stock worth $1,368,000 after acquiring an additional 2,731 shares during the last quarter. Finally, Ausdal Financial Partners Inc. raised its position in Chevron by 88.7% during the fourth quarter. Ausdal Financial Partners Inc. now owns 12,990 shares of the oil and gas company's stock valued at $1,881,000 after purchasing an additional 6,107 shares during the period. Institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CVX. Redburn Atlantic reissued a "sell" rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Barclays reiterated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Scotiabank reaffirmed a "sector perform" rating and set a $160.00 price target (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Finally, TD Cowen cut their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Three analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Chevron currently has an average rating of "Hold" and an average price target of $162.13.

Chevron Stock Down 0.6%

Shares of CVX traded down $1.00 during trading hours on Friday, hitting $154.84. The company had a trading volume of 7,872,671 shares, compared to its average volume of 12,051,790. 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 company has a market capitalization of $270.40 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 2.44 and a beta of 0.83. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company's fifty day moving average price is $145.12 and its two-hundred day moving average price is $148.82.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 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 business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same period in the prior year, the firm posted $2.93 earnings per share. The company's quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.42%. Chevron's dividend payout ratio is presently 78.17%.

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.