PSI Advisors LLC Sells 3,770 Shares of Chevron Corporation (NYSE:CVX)

PSI Advisors LLC reduced its position in Chevron Corporation (NYSE:CVX - Free Report) by 28.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,385 shares of the oil and gas company's stock after selling 3,770 shares during the period. PSI Advisors LLC's holdings in Chevron were worth $1,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of CVX. IMG Wealth Management Inc. purchased a new position in shares of Chevron during the 4th quarter worth $25,000. Life Planning Partners Inc bought a new position in Chevron in the 4th quarter worth $25,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron during the fourth quarter valued at $29,000. 10Elms LLP bought a new stake in Chevron during the fourth quarter valued at about $29,000. Finally, Fairway Wealth LLC increased its position in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after buying an additional 88 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Analyst Ratings Changes

CVX has been the topic of a number of analyst reports. HSBC cut Chevron from a "buy" rating to a "hold" rating and lowered their price objective for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Mizuho dropped their price target on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company decreased their price objective on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. UBS Group lowered their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Finally, TD Cowen cut their price target on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $160.24.

Chevron Trading Down 0.4%

Shares of Chevron stock opened at $148.18 on Thursday. The firm has a market cap of $258.78 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 2.61 and a beta of 0.83. The business has a 50-day moving average price of $138.82 and a 200-day moving average price of $148.90. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

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

Chevron Announces Dividend

The business 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 annualized dividend and a yield of 4.62%. Chevron's payout ratio is currently 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.

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