Mather Group LLC. Cuts Stock Position in Chevron Corporation (NYSE:CVX)

Mather Group LLC. cut its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 33.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,388 shares of the oil and gas company's stock after selling 8,099 shares during the quarter. Mather Group LLC.'s holdings in Chevron were worth $2,742,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CVX. Norges Bank purchased a new stake in Chevron during the 4th quarter valued at $3,017,750,000. Raymond James Financial Inc. bought a new stake in shares of Chevron in the 4th quarter worth approximately $1,036,302,000. GAMMA Investing LLC increased its stake in shares of Chevron by 21,191.5% during the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock valued at $904,746,000 after buying an additional 5,382,847 shares during the period. Amundi raised its holdings in shares of Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock valued at $1,323,549,000 after acquiring an additional 1,910,262 shares in the last quarter. Finally, Capital World Investors increased its position in Chevron by 11.4% during the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock valued at $2,039,288,000 after purchasing an additional 1,440,808 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

CVX traded up $2.34 during trading on Wednesday, hitting $147.91. The company's stock had a trading volume of 8,227,091 shares, compared to its average volume of 8,261,205. The business's 50 day simple moving average is $140.56 and its 200-day simple moving average is $148.08. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The firm has a market cap of $258.31 billion, a PE ratio of 16.90, a P/E/G ratio of 2.51 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping 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 net margin of 7.76% and a return on equity of 10.73%. The firm's revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.93 EPS. As a group, sell-side analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.62%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio is currently 78.17%.

Analyst Ratings Changes

Several research firms have recently commented on CVX. Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. UBS Group decreased their target price on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. TD Cowen dropped their price target on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Piper Sandler upped their target price on shares of Chevron from $162.00 to $164.00 and gave the stock an "overweight" rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $160.41.

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.