Freestone Capital Holdings LLC Sells 4,742 Shares of Chevron Corporation (NYSE:CVX)

Key Points

• Freestone Capital Holdings LLC reduced its stake in Chevron Corporation by 8.1%, selling 4,742 shares and leaving it with 53,853 shares valued at approximately $9 million.
• Chevron announced a quarterly dividend of $1.71 per share, which is set to be paid on September 10th, representing an annualized yield of 4.4%.
• Current analyst ratings for Chevron show mixed sentiments, with three analysts rating it as a sell, six as hold, and eleven as buy, leading to a consensus rating of "Hold."

Freestone Capital Holdings LLC reduced its stake in Chevron Corporation (NYSE:CVX - Free Report) by 8.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,853 shares of the oil and gas company's stock after selling 4,742 shares during the period. Freestone Capital Holdings LLC's holdings in Chevron were worth $9,009,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd increased its holdings in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after buying an additional 122 shares during the last quarter. 10Elms LLP bought a new stake in shares of Chevron in the 4th quarter worth about $29,000. Navigoe LLC bought a new stake in shares of Chevron in the 4th quarter worth about $33,000. IFS Advisors LLC increased its holdings in shares of Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after buying an additional 116 shares during the last quarter. Finally, Cloud Capital Management LLC bought a new stake in shares of Chevron in the 1st quarter worth about $39,000. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CVX. Redburn Atlantic restated a "sell" rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a report on Tuesday, May 6th. Evercore ISI restated an "outperform" rating and issued a $180.00 target price on shares of Chevron in a report on Thursday, July 31st. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, HSBC cut shares of 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. Three analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $164.11.

Chevron Price Performance

Chevron stock opened at $156.52 on Friday. The stock has a market cap of $270.46 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 2.35 and a beta of 0.87. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a 50-day moving average of $150.13 and a two-hundred day moving average of $148.54.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.19. The company 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 firm's quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.55 EPS. On average, research analysts forecast that Chevron Corporation 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 Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron's payout ratio is 88.03%.

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.

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