Chevron Corporation (NYSE:CVX) Holdings Decreased by Machina Capital S.A.S.

Key Points

• Machina Capital S.A.S. cut its holdings in Cheron Corporation (CVX) by 55.6% during the 1st quarter, owning 3,321 shares worth $556,000 after the reduction.
• The company reported a net income of $2.18 earnings per share for the quarter, beating analysts' expectations, but experienced a 2.3% decline in revenue compared to the prior year.
• Chevron's latest quarterly dividend was declared at $1.71 per share, representing a 4.42% yield, with a payout ratio of 78.17%.

Machina Capital S.A.S. trimmed its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 55.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,321 shares of the oil and gas company's stock after selling 4,156 shares during the period. Machina Capital S.A.S.'s holdings in Chevron were worth $556,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. 10Elms LLP acquired a new stake in shares of Chevron during the 4th quarter worth about $29,000. IFS Advisors LLC lifted its holdings in shares of Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after acquiring an additional 116 shares during the period. Navigoe LLC purchased a new position in shares of Chevron during the 4th quarter worth about $33,000. Cloud Capital Management LLC purchased a new position in shares of Chevron during the 1st quarter worth about $39,000. Finally, Cooksen Wealth LLC purchased a new position in Chevron in the first quarter valued at approximately $43,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Chevron stock traded up $1.56 during mid-day trading on Monday, reaching $156.40. The company's stock had a trading volume of 2,984,605 shares, compared to its average volume of 9,464,951. 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 firm has a market cap of $273.14 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 2.44 and a beta of 0.83. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The business has a 50 day moving average price of $145.12 and a 200-day moving average price of $148.82.

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 company had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the business posted $2.93 earnings per share. Sell-side analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 4.37%. The ex-dividend date was Monday, May 19th. Chevron's payout ratio is 78.17%.

Analyst Ratings Changes

Several research firms recently commented on CVX. BNP Paribas lowered shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. TD Cowen lowered 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. Barclays reaffirmed an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Redburn Atlantic reaffirmed a "sell" rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, Scotiabank reaffirmed a "sector perform" rating and issued a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $162.13.

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.