Robertson Stephens Wealth Management LLC Has $3.09 Million Position in Chevron Corporation (NYSE:CVX)

Robertson Stephens Wealth Management LLC trimmed its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 10.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,464 shares of the oil and gas company's stock after selling 2,194 shares during the period. Robertson Stephens Wealth Management LLC's holdings in Chevron were worth $3,089,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. Norges Bank acquired a new position in shares of Chevron in the fourth quarter worth about $3,017,750,000. Raymond James Financial Inc. acquired a new stake in shares of Chevron during the fourth quarter valued at approximately $1,036,302,000. GAMMA Investing LLC lifted its position in shares of Chevron by 21,191.5% in the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock valued at $904,746,000 after acquiring an additional 5,382,847 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Chevron by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock valued at $2,389,380,000 after acquiring an additional 2,432,756 shares in the last quarter. Finally, Amundi boosted its stake in Chevron by 27.7% in the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock worth $1,323,549,000 after purchasing an additional 1,910,262 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CVX. Piper Sandler cut their target price on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Redburn Atlantic reissued a "sell" rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Mizuho reduced their price objective 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 lowered Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, TD Cowen dropped their target price on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, Chevron has an average rating of "Hold" and an average price target of $160.24.

Chevron Stock Down 0.4%

CVX traded down $0.67 during midday trading on Wednesday, hitting $148.18. 9,824,086 shares of the company's stock traded hands, compared to its average volume of 8,216,853. 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 $258.78 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 2.56 and a beta of 0.83. The stock's fifty day simple moving average is $138.78 and its 200-day simple moving average is $148.91. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the prior year, the business posted $2.93 EPS. Chevron's quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued 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 dividend payout ratio (DPR) 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.