Simmons Bank Sells 2,380 Shares of Chevron Corporation (NYSE:CVX)

Simmons Bank decreased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,754 shares of the oil and gas company's stock after selling 2,380 shares during the period. Chevron accounts for about 1.0% of Simmons Bank's investment portfolio, making the stock its 20th largest holding. Simmons Bank's holdings in Chevron were worth $13,509,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. Berkeley Capital Partners LLC raised its stake in Chevron by 0.4% in the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock valued at $2,572,000 after purchasing an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its stake in shares of Chevron by 6.1% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company's stock worth $171,000 after acquiring an additional 68 shares in the last quarter. CoreCap Advisors LLC raised its stake in shares of Chevron by 0.3% during the fourth quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock worth $4,091,000 after acquiring an additional 71 shares in the last quarter. Fairscale Capital LLC raised its stake in shares of Chevron by 11.5% during the fourth quarter. Fairscale Capital LLC now owns 706 shares of the oil and gas company's stock worth $102,000 after acquiring an additional 73 shares in the last quarter. Finally, Austin Wealth Management LLC raised its stake in shares of Chevron by 3.2% during the fourth quarter. Austin Wealth Management LLC now owns 2,364 shares of the oil and gas company's stock worth $342,000 after acquiring an additional 74 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on CVX. Piper Sandler lifted their price target on shares of Chevron from $162.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 2nd. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Scotiabank downgraded shares of Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Finally, DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a research note on Tuesday, May 6th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $160.65.

Chevron Trading Down 0.7%

NYSE:CVX traded down $0.97 during trading hours on Monday, hitting $147.40. The company had a trading volume of 9,459,288 shares, compared to its average volume of 8,286,466. The company has a market capitalization of $257.42 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 2.51 and a beta of 0.83. The stock has a 50-day moving average price of $141.31 and a 200 day moving average price of $148.18. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82.

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

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend 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.