Kings Path Partners LLC Lowers Stock Position in Chevron Co. (NYSE:CVX)

Kings Path Partners LLC reduced its position in Chevron Co. (NYSE:CVX - Free Report) by 72.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,459 shares of the oil and gas company's stock after selling 6,621 shares during the period. Kings Path Partners LLC's holdings in Chevron were worth $411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Sage Capital Advisors llc increased its holdings in Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock worth $7,097,000 after acquiring an additional 919 shares in the last quarter. Allianz SE acquired a new position in Chevron during the fourth quarter worth $9,369,000. Nicholas Company Inc. raised its position in Chevron by 4.3% during the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock worth $11,591,000 after acquiring an additional 3,280 shares during the period. Applied Finance Capital Management LLC raised its position in Chevron by 1.6% during the fourth quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company's stock worth $26,044,000 after acquiring an additional 2,755 shares during the period. Finally, Cerity Partners LLC raised its position in Chevron by 4.5% during the fourth quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company's stock worth $174,817,000 after acquiring an additional 52,307 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Down 1.1%

Chevron stock traded down $1.48 during midday trading on Friday, hitting $136.43. 12,856,437 shares of the stock were exchanged, compared to its average volume of 8,115,079. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a market capitalization of $238.26 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.46 and a beta of 0.83. The stock's 50-day simple moving average is $141.88 and its 200 day simple moving average is $150.57. 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 (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 (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $49.05 billion. During the same period last year, the business earned $2.93 earnings per share. Chevron's revenue was down 2.3% compared to the same quarter last year. On average, equities analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 5.01%. The ex-dividend date is Monday, May 19th. Chevron's payout ratio is currently 78.17%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CVX. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. TD Cowen reduced their price objective on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Raymond James reduced their price objective on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a research report on Tuesday, May 6th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. 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. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $160.24.

Chevron Company 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.