Wedbush Securities Inc. Has $18.49 Million Holdings in Chevron Corporation (NYSE:CVX)

Wedbush Securities Inc. trimmed its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 6.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 110,524 shares of the oil and gas company's stock after selling 7,542 shares during the quarter. Chevron accounts for about 0.7% of Wedbush Securities Inc.'s portfolio, making the stock its 20th biggest holding. Wedbush Securities Inc.'s holdings in Chevron were worth $18,490,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. J. W. Coons Advisors LLC grew its holdings in Chevron by 7.3% during the first quarter. J. W. Coons Advisors LLC now owns 7,613 shares of the oil and gas company's stock valued at $1,274,000 after purchasing an additional 516 shares during the last quarter. Triumph Capital Management acquired a new position in shares of Chevron in the 1st quarter valued at $264,000. Garrison Bradford & Associates Inc. acquired a new position in shares of Chevron in the 1st quarter valued at $167,000. Blankinship & Foster LLC acquired a new position in Chevron during the first quarter worth $218,000. Finally, Convergence Investment Partners LLC raised its stake in Chevron by 37.5% during the first quarter. Convergence Investment Partners LLC now owns 24,496 shares of the oil and gas company's stock worth $4,098,000 after acquiring an additional 6,684 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

NYSE CVX traded down $1.00 on Friday, reaching $154.84. The stock had a trading volume of 7,872,671 shares, compared to its average volume of 12,051,790. 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 fifty day moving average of $145.12 and a two-hundred day moving average of $148.83. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a market cap of $270.40 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 2.46 and a beta of 0.83.

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 the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. Chevron's quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.93 EPS. On average, equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current 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 dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio (DPR) is currently 78.17%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CVX. Wells Fargo & Company raised their target price on Chevron from $165.00 to $178.00 and gave the company an "overweight" rating in a research note on Wednesday. Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Piper Sandler reaffirmed an "overweight" rating on shares of Chevron in a research report on Tuesday, July 15th. Redburn Atlantic restated a "sell" rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Finally, Mizuho cut their target price on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Three equities 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 company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $162.13.

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.