Sequoia Financial Advisors LLC Buys 3,932 Shares of Chevron Corporation (NYSE:CVX)

Sequoia Financial Advisors LLC increased its position in Chevron Corporation (NYSE:CVX - Free Report) by 3.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 134,459 shares of the oil and gas company's stock after acquiring an additional 3,932 shares during the period. Sequoia Financial Advisors LLC's holdings in Chevron were worth $22,494,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sage Capital Advisors llc increased its holdings in shares of Chevron by 2.2% in the 1st 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 period. CCG Wealth Management LLC increased its holdings in shares of Chevron by 2.3% in the 1st 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 period. Pines Wealth Management LLC increased its stake in Chevron by 3.3% during the 1st quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company's stock valued at $1,306,000 after buying an additional 253 shares during the period. Viking Fund Management LLC increased its stake in Chevron by 9.3% during the 1st quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company's stock valued at $19,573,000 after buying an additional 10,000 shares during the period. Finally, Allianz SE acquired a new position in Chevron during the 4th quarter valued at about $9,369,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Redburn Atlantic reissued a "sell" rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Piper Sandler lowered 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. Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and lowered their target price for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Three 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. According to data from MarketBeat, Chevron currently has an average rating of "Hold" and a consensus price target of $160.29.

Chevron Trading Down 0.4%

Shares of CVX traded down $0.57 during midday trading on Friday, hitting $143.87. The stock had a trading volume of 9,207,479 shares, compared to its average volume of 8,266,856. The business has a 50-day simple moving average of $140.08 and a two-hundred day simple moving average of $148.37. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The firm has a market cap of $251.26 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 2.54 and a beta of 0.83. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly 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 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%. The firm's revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.93 earnings per share. As a group, equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors 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 was Monday, May 19th. 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.