Chevron Corporation $CVX Position Lessened by Philadelphia Trust Co.

Key Points

• Philadelphia Trust Co. reduced its stake in Chevron Corporation by 9.9%, selling 1,609 shares to hold 14,644 shares valued at $2.45 million.
• Citing a recent earnings report, Chevron achieved $1.77 EPS, surpassing predictions, but revenue decreased 12.4% year-over-year to $44.82 billion.
• The company declared a quarterly dividend of $1.71 per share, resulting in an annualized dividend yield of 4.4%.

Philadelphia Trust Co. cut its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 9.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,644 shares of the oil and gas company's stock after selling 1,609 shares during the quarter. Philadelphia Trust Co.'s holdings in Chevron were worth $2,450,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Sage Capital Advisors llc increased its stake in Chevron by 2.2% during the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock worth $7,097,000 after acquiring an additional 919 shares during the last quarter. CCG Wealth Management LLC increased its stake in Chevron by 2.3% during the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock worth $1,060,000 after acquiring an additional 145 shares during the last quarter. Ignite Planners LLC grew its stake in shares of Chevron by 14.1% in the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock valued at $2,060,000 after buying an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. grew its stake in shares of Chevron by 9.1% in the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock valued at $993,000 after buying an additional 495 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Chevron by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock valued at $24,075,000 after buying an additional 675 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Raymond James Financial reiterated an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. Evercore ISI reiterated an "outperform" rating and issued a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Barclays reiterated an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. Wells Fargo & Company reiterated an "overweight" rating and issued a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. Finally, Redburn Atlantic reiterated a "sell" rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Chevron has a consensus rating of "Hold" and a consensus price target of $164.33.

Chevron Stock Performance

NYSE:CVX traded down $1.11 during trading hours on Monday, reaching $155.44. 8,167,489 shares of the stock were exchanged, compared to its average volume of 10,200,574. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The firm has a 50 day simple moving average of $150.13 and a 200-day simple moving average of $148.49. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a market capitalization of $268.60 billion, a P/E ratio of 20.01, a P/E/G ratio of 2.35 and a beta of 0.87.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%. The company had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter last year, the business posted $2.55 EPS. Chevron's quarterly revenue was down 12.4% compared to the same quarter last year. As a group, 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 declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron's dividend payout ratio (DPR) is 88.03%.

About Chevron

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.