Chevron Corporation (NYSE:CVX) Shares Sold by VCI Wealth Management LLC

VCI Wealth Management LLC lowered its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 19.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,369 shares of the oil and gas company's stock after selling 2,303 shares during the quarter. VCI Wealth Management LLC's holdings in Chevron were worth $1,567,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sage Capital Advisors llc increased its holdings in shares of Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after acquiring an additional 919 shares during the period. CCG Wealth Management LLC increased its holdings in shares of Chevron by 2.3% in the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after acquiring an additional 145 shares during the period. Ignite Planners LLC increased its holdings in shares of Chevron by 14.1% in the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock valued at $2,060,000 after acquiring an additional 1,519 shares during the period. Vista Capital Partners Inc. increased its holdings in shares of Chevron by 9.1% in the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock valued at $993,000 after acquiring an additional 495 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its position in Chevron by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock valued at $24,075,000 after buying an additional 675 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented 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. UBS Group decreased their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. TD Cowen decreased their target price on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Barclays restated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Finally, Wells Fargo & Company lifted their price target on Chevron from $165.00 to $178.00 and gave the stock an "overweight" rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron currently has an average rating of "Hold" and an average target price of $162.13.

Chevron Trading Up 1.8%

Shares of NYSE:CVX traded up $2.70 during trading on Thursday, reaching $155.82. 15,102,644 shares of the stock were exchanged, compared to its average volume of 9,509,270. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The firm has a market cap of $272.12 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 2.48 and a beta of 0.83. The firm's 50-day moving average price is $144.59 and its 200 day moving average price is $148.73.

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, topping analysts' consensus estimates 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 analysts' expectations of $49.05 billion. During the same quarter in the previous year, the business earned $2.93 EPS. The company's revenue for the quarter was down 2.3% on a year-over-year basis. On average, sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal 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 $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date of this dividend was Monday, May 19th. 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.