Hennion & Walsh Asset Management Inc. Lowers Holdings in Chevron Co. (NYSE:CVX)

Hennion & Walsh Asset Management Inc. lowered its holdings in Chevron Co. (NYSE:CVX - Free Report) by 7.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,636 shares of the oil and gas company's stock after selling 3,104 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Chevron were worth $6,129,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. IMG Wealth Management Inc. purchased a new position in Chevron in the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron in the 4th quarter valued at about $29,000. 10Elms LLP purchased a new position in shares of Chevron in the 4th quarter valued at about $29,000. Fairway Wealth LLC boosted its stake in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after buying an additional 88 shares during the period. Finally, Navigoe LLC acquired a new position in shares of Chevron during the fourth quarter worth about $33,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CVX shares. HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and reduced their target price for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Redburn Atlantic restated a "sell" rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. UBS Group decreased their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. TD Cowen dropped their target price on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Finally, BNP Paribas cut Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Stock Performance

Shares of NYSE CVX traded down $0.55 during trading hours on Thursday, reaching $136.82. The stock had a trading volume of 6,335,522 shares, compared to its average volume of 8,112,454. The firm has a 50-day moving average of $140.16 and a 200-day moving average of $150.11. The firm has a market cap of $238.95 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 1.46 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company's revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.93 earnings per share. Equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed 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 of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 5.00%. 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.