Stratos Wealth Partners LTD. Trims Holdings in Chevron Corporation (NYSE:CVX)

Stratos Wealth Partners LTD. reduced its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 14.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,128 shares of the oil and gas company's stock after selling 10,589 shares during the period. Stratos Wealth Partners LTD.'s holdings in Chevron were worth $10,895,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sage Capital Advisors llc lifted its stake in shares of Chevron by 2.2% in 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 buying an additional 919 shares in the last quarter. CCG Wealth Management LLC lifted its stake in shares of Chevron by 2.3% in the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock worth $1,060,000 after buying an additional 145 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Chevron by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock worth $24,075,000 after buying an additional 675 shares in the last quarter. Pines Wealth Management LLC lifted its stake in shares of Chevron by 3.3% in 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 buying an additional 253 shares in the last quarter. Finally, Viking Fund Management LLC lifted its stake in shares of Chevron by 9.3% in 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 buying an additional 10,000 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Up 0.8%

Shares of Chevron stock traded up $1.21 during trading hours on Friday, hitting $155.38. The company had a trading volume of 8,332,244 shares, compared to its average volume of 8,352,057. The company's 50-day moving average is $142.62 and its two-hundred day moving average is $148.41. Chevron Corporation has a twelve month low of $132.04 and a twelve month 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. The company has a market cap of $271.35 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 2.61 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating 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 business had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same quarter in the prior year, the business posted $2.93 EPS. The company's revenue for the quarter was down 2.3% on a year-over-year basis. 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. Stockholders of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's payout ratio is 78.17%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CVX shares. Piper Sandler raised 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. UBS Group reduced their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Barclays lifted their target price on shares of Chevron from $152.00 to $156.00 and gave the stock an "equal weight" rating in a research note on Monday. Redburn Atlantic reaffirmed a "sell" rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Finally, TD Cowen reduced their target price on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $161.65.

Chevron 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.