GTS Securities LLC Cuts Stock Position in Chevron Co. (NYSE:CVX)

GTS Securities LLC decreased its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 78.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,617 shares of the oil and gas company's stock after selling 63,580 shares during the quarter. GTS Securities LLC's holdings in Chevron were worth $2,552,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of CVX. Geode Capital Management LLC increased its position in shares of Chevron by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock worth $5,247,142,000 after acquiring an additional 392,916 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Chevron by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company's stock valued at $4,613,960,000 after purchasing an additional 746,806 shares during the last quarter. Norges Bank bought a new stake in Chevron during the 4th quarter worth approximately $3,017,750,000. Northern Trust Corp raised its stake in shares of Chevron by 7.3% in the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock worth $2,965,135,000 after purchasing an additional 1,394,091 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Chevron by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock valued at $2,881,280,000 after purchasing an additional 410,460 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

Shares of NYSE:CVX traded down $0.75 during midday trading on Wednesday, reaching $137.08. 2,911,044 shares of the company traded hands, compared to its average volume of 8,062,645. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The firm's fifty day moving average price is $143.58 and its two-hundred day moving average price is $150.94. 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 firm has a market capitalization of $239.40 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the prior year, the firm posted $2.93 earnings per share. The company's revenue for the quarter was down 2.3% on a year-over-year basis. On average, equities analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.99%. Chevron's dividend payout ratio is currently 78.17%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Piper Sandler dropped their price objective on Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Redburn Atlantic restated a "sell" rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Truist Financial reduced their price objective on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research report on Tuesday, February 4th. BNP Paribas downgraded Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Finally, TD Cowen decreased their price target on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average 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.