Stratos Wealth Advisors LLC Sells 5,437 Shares of Chevron Corporation (NYSE:CVX)

Stratos Wealth Advisors LLC cut its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 32.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,543 shares of the oil and gas company's stock after selling 5,437 shares during the quarter. Stratos Wealth Advisors LLC's holdings in Chevron were worth $1,931,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CVX. Eagle Capital Management LLC lifted its stake in Chevron by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after buying an additional 242 shares during the period. Bank Pictet & Cie Europe AG lifted its stake in Chevron by 7.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock valued at $5,212,000 after buying an additional 2,641 shares during the period. Proficio Capital Partners LLC raised its position in shares of Chevron by 59.5% during the fourth quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company's stock worth $847,000 after purchasing an additional 2,182 shares during the period. Edgestream Partners L.P. acquired a new position in shares of Chevron during the fourth quarter worth approximately $1,769,000. Finally, Clare Market Investments LLC acquired a new position in shares of Chevron during the fourth quarter worth approximately $524,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

NYSE CVX remained flat at $153.24 during trading hours on Wednesday. 9,494,909 shares of the company were exchanged, compared to its average volume of 8,327,299. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a 50-day simple moving average of $141.58 and a 200 day simple moving average of $148.22. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The company has a market cap of $267.62 billion, a PE ratio of 17.51, a P/E/G ratio of 2.50 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data 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. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter last year, the company posted $2.93 earnings per share. The firm's quarterly revenue was down 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.46%. Chevron's dividend payout ratio is presently 78.17%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CVX shares. DZ Bank lowered Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a research report on Tuesday, May 6th. Piper Sandler upped their target price on Chevron from $162.00 to $164.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. UBS Group lowered their target price on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Scotiabank lowered Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Finally, HSBC downgraded Chevron from a "buy" rating to a "hold" rating and decreased their price target for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given 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 target price of $160.65.

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.