Sowell Financial Services LLC Trims Position in Chevron Co. (NYSE:CVX)

Sowell Financial Services LLC decreased its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 6.6% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 75,142 shares of the oil and gas company's stock after selling 5,294 shares during the period. Sowell Financial Services LLC's holdings in Chevron were worth $12,570,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Sage Capital Advisors llc increased its position in Chevron by 2.2% during the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock worth $7,097,000 after purchasing an additional 919 shares during the last quarter. Pines Wealth Management LLC increased its position in Chevron by 3.3% during the first quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company's stock worth $1,306,000 after purchasing an additional 253 shares during the last quarter. Viking Fund Management LLC increased its position in Chevron by 9.3% during the first quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company's stock worth $19,573,000 after purchasing an additional 10,000 shares during the last quarter. Allianz SE acquired a new position in Chevron during the fourth quarter worth approximately $9,369,000. Finally, Nicholas Company Inc. increased its position in shares of Chevron by 4.3% in the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock worth $11,591,000 after acquiring an additional 3,280 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CVX. Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Barclays lowered shares of Chevron from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Wells Fargo & Company dropped their price objective on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. TD Cowen dropped their price objective on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Finally, UBS Group dropped their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $160.24.

Chevron Stock Up 0.5%

NYSE:CVX opened at $145.74 on Monday. The firm has a market capitalization of $254.52 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The stock has a 50 day moving average of $138.53 and a 200-day moving average of $149.02. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. Chevron's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the firm posted $2.93 EPS. Analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.69%. Chevron's dividend payout ratio is presently 78.17%.

About Chevron

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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