Inspire Advisors LLC Lowers Position in Chevron Corporation (NYSE:CVX)

Key Points

• Inspire Advisors LLC reduced its stake in Chevron Corporation by 53.0%, selling 2,386 shares to hold just 2,113 shares valued at $354,000.
• Several institutional investors increased their holdings in Chevron, with Geode Capital Management acquiring an additional 392,916 shares and Northern Trust Corp adding 1,394,091 shares in the last quarter.
• Chevron recently announced a quarterly dividend of $1.71 per share, translating to an annualized yield of 4.35% and a payout ratio of 78.17%.

Inspire Advisors LLC cut its position in Chevron Corporation (NYSE:CVX - Free Report) by 53.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,113 shares of the oil and gas company's stock after selling 2,386 shares during the quarter. Inspire Advisors LLC's holdings in Chevron were worth $354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CVX. CoreCap Advisors LLC increased its holdings in shares of Chevron by 0.3% in the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock worth $4,091,000 after buying an additional 71 shares during the last quarter. Clayton Financial Group LLC grew its holdings in shares of Chevron by 4.6% during the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock valued at $285,000 after purchasing an additional 75 shares during the last quarter. Requisite Capital Management LLC grew its holdings in shares of Chevron by 1.2% during the 1st quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company's stock valued at $1,064,000 after purchasing an additional 77 shares during the last quarter. Silverlake Wealth Management LLC grew its holdings in Chevron by 0.7% in the 1st quarter. Silverlake Wealth Management LLC now owns 10,929 shares of the oil and gas company's stock worth $1,828,000 after acquiring an additional 78 shares during the last quarter. Finally, Annandale Capital LLC grew its holdings in Chevron by 5.7% in the 4th quarter. Annandale Capital LLC now owns 1,471 shares of the oil and gas company's stock worth $213,000 after acquiring an additional 79 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of CVX stock traded down $0.83 during trading hours on Friday, reaching $150.81. The company had a trading volume of 6,407,339 shares, compared to its average volume of 9,466,996. The business has a fifty day moving average price of $146.57 and a 200-day moving average price of $148.90. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a market cap of $263.37 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 2.42 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results 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 analyst estimates of $44.59 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm's quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.55 earnings per share. Sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent analyst reports. Raymond James Financial reissued an "outperform" rating on shares of Chevron in a report on Friday. Barclays reissued an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a research report on Tuesday, May 6th. Redburn Atlantic reaffirmed a "sell" rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, Mizuho dropped their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Chevron has a consensus rating of "Hold" and an average target price of $163.18.

Chevron 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.