Chevron Co. (NYSE:CVX) Shares Sold by LM Advisors LLC

LM Advisors LLC cut its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 57.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,479 shares of the oil and gas company's stock after selling 6,006 shares during the quarter. LM Advisors LLC's holdings in Chevron were worth $649,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allianz SE purchased a new stake in Chevron during the fourth quarter worth about $9,369,000. Nicholas Company Inc. lifted 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 valued at $11,591,000 after purchasing an additional 3,280 shares during the last quarter. Applied Finance Capital Management LLC lifted 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 valued at $26,044,000 after purchasing an additional 2,755 shares during the last quarter. Cerity Partners LLC lifted 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 valued at $174,817,000 after purchasing an additional 52,307 shares during the last quarter. Finally, Wedbush Securities Inc. lifted its position in Chevron by 6.8% during the fourth quarter. Wedbush Securities Inc. now owns 118,066 shares of the oil and gas company's stock valued at $17,101,000 after purchasing an additional 7,557 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CVX has been the subject of several research analyst reports. Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Barclays lowered shares of Chevron from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Royal Bank of Canada reiterated an "outperform" rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. UBS Group lowered their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $160.24.

Chevron Stock Performance

CVX traded up $1.24 during midday trading on Tuesday, hitting $137.78. 8,339,036 shares of the company were exchanged, compared to its average volume of 8,082,749. The company's 50 day simple moving average is $144.12 and its 200 day simple moving average is $151.03. The firm has a market capitalization of $240.62 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. 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 Co. has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $49.05 billion. During the same period last year, the company posted $2.93 EPS. Chevron's quarterly revenue was down 2.3% compared to the same quarter last year. As a group, sell-side analysts predict 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 will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.96%. Chevron's dividend payout ratio (DPR) is 78.17%.

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.