Investment Partners Asset Management Inc. Sells 1,792 Shares of Chevron Co. (NYSE:CVX)

Investment Partners Asset Management Inc. reduced its position in Chevron Co. (NYSE:CVX - Free Report) by 55.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,427 shares of the oil and gas company's stock after selling 1,792 shares during the period. Investment Partners Asset Management Inc.'s holdings in Chevron were worth $239,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Capital & Planning LLC grew its stake in Chevron by 15.2% during the 4th quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company's stock valued at $243,000 after purchasing an additional 222 shares in the last quarter. Eagle Capital Management LLC boosted its position in Chevron by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after purchasing an additional 242 shares during the period. Union Bancaire Privee UBP SA bought a new position in Chevron during the 4th quarter worth $8,947,000. Principle Wealth Partners LLC increased its position in Chevron by 0.5% in the fourth quarter. Principle Wealth Partners LLC now owns 39,102 shares of the oil and gas company's stock worth $5,664,000 after buying an additional 199 shares during the period. Finally, Pineridge Advisors LLC lifted its stake in Chevron by 286.7% in the fourth quarter. Pineridge Advisors LLC now owns 1,253 shares of the oil and gas company's stock valued at $181,000 after buying an additional 929 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

Chevron stock traded up $0.01 during trading hours on Thursday, reaching $144.79. 3,920,440 shares of the company were exchanged, compared to its average volume of 8,138,341. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average of $138.24 and a 200 day moving average of $149.42. The firm has a market cap of $252.86 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.46 and a beta of 0.83.

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

Chevron Dividend Announcement

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

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of analyst reports. Redburn Atlantic reaffirmed a "sell" rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Mizuho decreased their target price on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. BNP Paribas lowered shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Finally, TD Cowen reduced their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target 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.