Chevron Corporation (NYSE:CVX) Shares Sold by Madison Asset Management LLC

Madison Asset Management LLC cut its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 3.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 131,058 shares of the oil and gas company's stock after selling 4,871 shares during the period. Madison Asset Management LLC's holdings in Chevron were worth $21,925,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CVX. Geode Capital Management LLC grew its holdings in Chevron by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock worth $5,247,142,000 after acquiring an additional 392,916 shares during the period. Norges Bank bought a new position in shares of Chevron during the 4th quarter worth approximately $3,017,750,000. Northern Trust Corp lifted its position in shares of Chevron by 7.3% during the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock worth $2,965,135,000 after buying an additional 1,394,091 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Chevron by 0.5% during the 4th quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company's stock worth $2,502,850,000 after purchasing an additional 79,917 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Chevron by 1.3% during the 4th quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company's stock worth $2,421,564,000 after purchasing an additional 211,023 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of CVX traded down $1.00 during trading hours on Friday, hitting $154.84. The stock had a trading volume of 7,872,671 shares, compared to its average volume of 12,051,790. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The firm has a 50-day moving average price of $145.12 and a 200 day moving average price of $148.83. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm has a market capitalization of $270.40 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 2.46 and a beta of 0.83.

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

Chevron Announces Dividend

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 dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.42%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio (DPR) is presently 78.17%.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent research reports. Mizuho reduced their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. DZ Bank downgraded Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a research report on Tuesday, May 6th. Wells Fargo & Company raised their price objective on Chevron from $165.00 to $178.00 and gave the company an "overweight" rating in a research note on Wednesday. TD Cowen reduced their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Finally, BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $162.13.

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.