Mediolanum International Funds Ltd Has $26.05 Million Position in Chevron Corporation (NYSE:CVX)

Key Points

• Mediolanum International Funds Ltd reduced its stake in Chevron Corporation by 26.2% in the 1st quarter, selling 55,642 shares and retaining 156,817 shares. The total value of its holdings is approximately $26 million.
• Analyst ratings for Chevron have been mixed, with three analysts issuing sell ratings, six holding, and nine giving buy ratings; the average target price has shifted to $162.13.
• Chevron announced a quarterly dividend of $1.71 per share, resulting in an annualized dividend of $6.84 and a yield of 4.42%, reflecting a payout ratio of 78.17%.

Mediolanum International Funds Ltd cut its stake in Chevron Corporation (NYSE:CVX - Free Report) by 26.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 156,817 shares of the oil and gas company's stock after selling 55,642 shares during the period. Mediolanum International Funds Ltd's holdings in Chevron were worth $26,046,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Knights of Columbus Asset Advisors LLC grew its holdings in Chevron by 21,406.1% during the first quarter. Knights of Columbus Asset Advisors LLC now owns 35,270 shares of the oil and gas company's stock valued at $5,900,000 after purchasing an additional 35,106 shares during the period. Bell & Brown Wealth Advisors LLC grew its holdings in shares of Chevron by 2.5% in the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 28,857 shares of the oil and gas company's stock valued at $4,828,000 after buying an additional 703 shares during the period. Benedict Financial Advisors Inc. grew its holdings in shares of Chevron by 3.1% in the 1st quarter. Benedict Financial Advisors Inc. now owns 28,343 shares of the oil and gas company's stock valued at $4,742,000 after buying an additional 850 shares during the period. Drive Wealth Management LLC grew its holdings in shares of Chevron by 77.2% in the 1st quarter. Drive Wealth Management LLC now owns 11,129 shares of the oil and gas company's stock valued at $1,862,000 after buying an additional 4,848 shares during the period. Finally, Prospect Financial Group LLC grew its holdings in shares of Chevron by 5.9% in the 1st quarter. Prospect Financial Group LLC now owns 1,746 shares of the oil and gas company's stock valued at $292,000 after buying an additional 98 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CVX. Scotiabank reiterated a "sector perform" rating and issued a $160.00 price target (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and reduced their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. UBS Group reduced their target price 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, Redburn Atlantic restated a "sell" rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $162.13.

Chevron Stock Performance

NYSE:CVX traded down $2.00 during mid-day trading on Wednesday, reaching $155.03. 3,202,274 shares of the company's stock were exchanged, compared to its average volume of 9,441,852. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a market capitalization of $270.74 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 2.46 and a beta of 0.83. The business's fifty day simple moving average is $145.88 and its two-hundred day simple moving average is $148.89. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

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

Chevron Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.41%. Chevron's payout ratio is 78.17%.

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.