Quilter Plc Sells 13,870 Shares of Chevron Corporation (NYSE:CVX)

Quilter Plc lessened its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 3.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 417,395 shares of the oil and gas company's stock after selling 13,870 shares during the quarter. Chevron accounts for approximately 1.5% of Quilter Plc's investment portfolio, making the stock its 26th biggest position. Quilter Plc's holdings in Chevron were worth $69,826,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CVX. IMG Wealth Management Inc. purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $25,000. Life Planning Partners Inc purchased a new stake in Chevron during the fourth quarter valued at about $25,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron during the fourth quarter valued at about $29,000. 10Elms LLP bought a new position in shares of Chevron in the fourth quarter worth approximately $29,000. Finally, Fairway Wealth LLC boosted its stake in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 88 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CVX. Barclays cut Chevron from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and dropped their target price for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Mizuho decreased their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, DZ Bank cut Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective on the stock. in a report on Tuesday, May 6th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $160.29.

Chevron Price Performance

Shares of Chevron stock traded down $0.57 during trading on Friday, hitting $143.87. 9,207,479 shares of the company's stock traded hands, compared to its average volume of 8,254,743. The firm's fifty day moving average price is $140.20 and its 200 day moving average price is $148.22. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The company has a market cap of $251.26 billion, a PE ratio of 16.44, a PEG ratio of 2.52 and a beta of 0.83. 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 issued its earnings results 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 analysts' expectations of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company's 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. Analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio (DPR) is currently 78.17%.

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.