Middleton & Co. Inc. MA Trims Stake in Chevron Corporation (NYSE:CVX)

Middleton & Co. Inc. MA lessened its stake in Chevron Corporation (NYSE:CVX - Free Report) by 14.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,968 shares of the oil and gas company's stock after selling 3,014 shares during the period. Middleton & Co. Inc. MA's holdings in Chevron were worth $3,006,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Harvest Fund Management Co. Ltd lifted its stake in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 122 shares during the period. 10Elms LLP acquired a new stake in Chevron during the fourth quarter valued at $29,000. IFS Advisors LLC increased its holdings in Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after buying an additional 116 shares in the last quarter. Navigoe LLC acquired a new position in shares of Chevron in the fourth quarter worth about $33,000. Finally, Cloud Capital Management LLC acquired a new position in shares of Chevron in the first quarter worth about $39,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CVX shares. Redburn Atlantic restated a "sell" rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Evercore ISI reiterated an "outperform" rating and set a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. Morgan Stanley began coverage on Chevron in a report on Monday. They issued an "overweight" rating and a $174.00 price objective on the stock. Scotiabank restated a "sector perform" rating and issued a $160.00 price objective (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Chevron in a research report on Friday. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $164.11.

Chevron Stock Performance

NYSE:CVX opened at $150.81 on Tuesday. The company has a market cap of $263.37 billion, a P/E ratio of 19.41, a P/E/G ratio of 2.31 and a beta of 0.87. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company's 50-day moving average price is $147.14 and its 200-day moving average price is $148.65. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.80%. The company had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the prior year, the firm earned $2.55 EPS. Chevron's quarterly revenue was down 12.4% on a year-over-year basis. On average, sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be given a dividend of $1.71 per share. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. Chevron's dividend payout ratio (DPR) is presently 88.03%.

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.

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