Symphony Financial Ltd. Co. Lowers Holdings in Chevron Corporation (NYSE:CVX)

Symphony Financial Ltd. Co. decreased its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 81.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,524 shares of the oil and gas company's stock after selling 25,052 shares during the quarter. Symphony Financial Ltd. Co.'s holdings in Chevron were worth $924,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. IMG Wealth Management Inc. purchased a new position in Chevron during the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron during the fourth quarter valued at $29,000. 10Elms LLP purchased a new position in Chevron during the fourth quarter valued at $29,000. Fairway Wealth LLC raised its stake in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 88 shares during the last quarter. Finally, IFS Advisors LLC raised its stake in shares of Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after purchasing an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

Shares of CVX opened at $146.92 on Tuesday. The business has a fifty day moving average of $139.60 and a 200 day moving average of $148.52. Chevron Corporation has a one year low of $132.04 and a one year 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 firm has a market capitalization of $256.58 billion, a P/E ratio of 16.79, a PEG ratio of 2.63 and a beta of 0.83.

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 (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the previous year, the company posted $2.93 earnings per share. Chevron's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio is presently 78.17%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Barclays cut Chevron from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. BNP Paribas cut Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Redburn Atlantic restated a "sell" rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their price target on Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Finally, Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $160.24.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.