Good Life Advisors LLC Cuts Stock Holdings in Chevron Corporation (NYSE:CVX)

Good Life Advisors LLC decreased its position in Chevron Corporation (NYSE:CVX - Free Report) by 18.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,461 shares of the oil and gas company's stock after selling 2,606 shares during the quarter. Good Life Advisors LLC's holdings in Chevron were worth $1,917,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CVX. Norges Bank bought a new position in Chevron in the fourth quarter valued at about $3,017,750,000. Raymond James Financial Inc. bought a new position in Chevron in the 4th quarter valued at approximately $1,036,302,000. GAMMA Investing LLC boosted its position in Chevron by 21,191.5% during the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock worth $904,746,000 after buying an additional 5,382,847 shares during the period. Bank of New York Mellon Corp increased its position in Chevron by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock valued at $2,389,380,000 after acquiring an additional 2,432,756 shares during the period. Finally, Amundi raised its stake in shares of Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock valued at $1,323,549,000 after acquiring an additional 1,910,262 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. UBS Group reduced their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a research note on Tuesday, May 6th. Barclays downgraded Chevron from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company dropped their price objective on Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $160.24.

Chevron Price Performance

Shares of Chevron stock traded up $2.83 during trading on Tuesday, hitting $148.86. The stock had a trading volume of 11,315,628 shares, compared to its average volume of 8,210,412. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The firm has a market cap of $259.97 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 2.56 and a beta of 0.83. The business's 50-day moving average is $138.72 and its 200 day moving average is $148.91.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. During the same quarter last year, the firm posted $2.93 EPS. The company's revenue was down 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.59%. Chevron's payout ratio is presently 78.17%.

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.