Chevron Corporation (NYSE:CVX) Stock Holdings Reduced by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS cut its position in Chevron Corporation (NYSE:CVX - Free Report) by 0.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 453,123 shares of the oil and gas company's stock after selling 1,655 shares during the quarter. Chevron makes up approximately 1.6% of Kornitzer Capital Management Inc. KS's investment portfolio, making the stock its 8th largest holding. Kornitzer Capital Management Inc. KS's holdings in Chevron were worth $75,803,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Berkeley Capital Partners LLC boosted its position in shares of Chevron by 0.4% during the 4th quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock worth $2,572,000 after purchasing an additional 67 shares during the period. CoreCap Advisors LLC boosted its position in shares of Chevron by 0.3% during the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock worth $4,091,000 after purchasing an additional 71 shares during the period. Clayton Financial Group LLC boosted its position 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 worth $285,000 after purchasing an additional 75 shares during the period. Requisite Capital Management LLC boosted its position 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 worth $1,064,000 after purchasing an additional 77 shares during the period. Finally, Silverlake Wealth Management LLC boosted its position in shares of Chevron by 0.7% during 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 purchasing an additional 78 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Down 0.6%

NYSE:CVX traded down $0.94 during midday trading on Tuesday, hitting $150.71. 7,342,550 shares of the company were exchanged, compared to its average volume of 8,375,837. The company has a fifty day simple moving average of $142.95 and a 200 day simple moving average of $148.52. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $263.20 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 2.57 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. Chevron's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the business earned $2.93 EPS. As a group, equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.54%. Chevron's dividend payout ratio (DPR) is 78.17%.

Analyst Ratings Changes

Several equities analysts have commented on CVX shares. Piper Sandler reissued an "overweight" rating on shares of Chevron in a research report on Tuesday. TD Cowen decreased their price target 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. 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. Redburn Atlantic reaffirmed a "sell" rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, Scotiabank reaffirmed a "sector perform" rating and set a $160.00 price objective (up from $143.00) on shares of Chevron in a research report on Friday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Chevron has an average rating of "Hold" and a consensus target price of $161.65.

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.