Warren Street Wealth Advisors LLC Lowers Stake in Chevron Co. (NYSE:CVX)

Warren Street Wealth Advisors LLC lessened its stake in Chevron Co. (NYSE:CVX - Free Report) by 9.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,008 shares of the oil and gas company's stock after selling 3,905 shares during the quarter. Chevron comprises about 2.5% of Warren Street Wealth Advisors LLC's holdings, making the stock its 9th largest holding. Warren Street Wealth Advisors LLC's holdings in Chevron were worth $6,358,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVX. Norges Bank bought a new stake in shares of Chevron in the 4th quarter worth about $3,017,750,000. Raymond James Financial Inc. acquired a new position in Chevron in the fourth quarter worth about $1,036,302,000. GAMMA Investing LLC increased its holdings in Chevron by 21,191.5% in the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock valued at $904,746,000 after buying an additional 5,382,847 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Chevron by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock valued at $2,389,380,000 after buying an additional 2,432,756 shares in the last quarter. Finally, Amundi raised its stake in Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock valued at $1,323,549,000 after buying an additional 1,910,262 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Trading Up 2.4%

CVX stock traded up $3.31 during midday trading on Friday, hitting $140.21. 6,555,988 shares of the company's stock were exchanged, compared to its average volume of 8,110,481. Chevron Co. 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 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a market cap of $244.86 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The stock's fifty day moving average price is $139.54 and its 200-day moving average price is $149.95.

Chevron (NYSE:CVX - Get Free Report) last released 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. The firm had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company's revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.93 EPS. Research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.88%. The ex-dividend date is Monday, May 19th. Chevron's dividend payout ratio (DPR) is currently 78.17%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVX. Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Redburn Atlantic reaffirmed a "sell" rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. DZ Bank downgraded Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a research note on Tuesday, May 6th. Finally, BNP Paribas cut Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $160.24.

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.