OneAscent Wealth Management LLC Sells 2,646 Shares of Chevron Corporation (NYSE:CVX)

OneAscent Wealth Management LLC trimmed its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 42.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,641 shares of the oil and gas company's stock after selling 2,646 shares during the quarter. OneAscent Wealth Management LLC's holdings in Chevron were worth $609,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Chevron by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock valued at $5,247,142,000 after buying an additional 392,916 shares during the period. Norges Bank bought a new stake in shares of Chevron in the 4th quarter valued at $3,017,750,000. Northern Trust Corp increased its position in shares of Chevron by 7.3% in the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock valued at $2,965,135,000 after buying an additional 1,394,091 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Chevron by 0.5% in the 4th quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company's stock valued at $2,502,850,000 after buying an additional 79,917 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Chevron by 1.3% in 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 period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Chevron stock traded up $1.90 during midday trading on Thursday, reaching $155.02. 6,637,269 shares of the stock were exchanged, compared to its average volume of 9,455,249. The company's fifty day moving average is $144.59 and its 200-day moving average is $148.73. The firm has a market cap of $270.72 billion, a PE ratio of 17.70, a PEG ratio of 2.48 and a beta of 0.83. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. 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, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same quarter in the prior year, the company earned $2.93 EPS. The firm's revenue was down 2.3% on a year-over-year basis. On average, sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.41%. Chevron's payout ratio is 78.17%.

Analysts Set New Price Targets

CVX has been the subject of a number of research analyst reports. Wells Fargo & Company upped their target price on shares of Chevron from $165.00 to $178.00 and gave the stock an "overweight" rating in a research note on Wednesday. Piper Sandler reaffirmed an "overweight" rating on shares of Chevron in a report on Tuesday, July 15th. Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a research report on Friday, July 18th. UBS Group cut their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Finally, Redburn Atlantic reiterated a "sell" rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $162.13.

Chevron 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.