InTrack Investment Management Inc Trims Stake in Chevron Co. (NYSE:CVX)

InTrack Investment Management Inc cut its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 66.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,575 shares of the oil and gas company's stock after selling 5,054 shares during the period. InTrack Investment Management Inc's holdings in Chevron were worth $431,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. TFB Advisors LLC increased its stake in Chevron by 2.4% in the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company's stock valued at $411,000 after buying an additional 66 shares during the last quarter. W.H. Cornerstone Investments Inc. grew its holdings in shares of Chevron by 1.4% in the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock valued at $677,000 after acquiring an additional 66 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Chevron by 0.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock worth $2,207,000 after buying an additional 66 shares during the last quarter. Berkeley Capital Partners LLC grew its position in Chevron by 0.4% during the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock valued at $2,572,000 after buying an additional 67 shares during the period. Finally, CBIZ Investment Advisory Services LLC increased its holdings in Chevron by 6.1% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company's stock worth $171,000 after buying an additional 68 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CVX shares. 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 report on Tuesday, May 6th. Barclays cut Chevron from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. TD Cowen decreased their price objective on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Finally, HSBC downgraded Chevron from a "buy" rating to a "hold" rating and lowered their price target for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Three 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $160.24.

Chevron Trading Up 0.1%

Shares of NYSE:CVX traded up $0.13 during midday trading on Thursday, hitting $144.91. 3,755,870 shares of the stock traded hands, compared to its average volume of 8,137,676. 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 stock has a market capitalization of $253.07 billion, a PE ratio of 14.91, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The business's 50 day moving average is $138.24 and its two-hundred day moving average is $149.42.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business's revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the business posted $2.93 EPS. As a group, research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's payout ratio is 78.17%.

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.