Williams Jones Wealth Management LLC. Sells 11,806 Shares of Chevron Co. (NYSE:CVX)

Williams Jones Wealth Management LLC. trimmed its holdings in Chevron Co. (NYSE:CVX - Free Report) by 10.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 102,174 shares of the oil and gas company's stock after selling 11,806 shares during the quarter. Williams Jones Wealth Management LLC.'s holdings in Chevron were worth $14,799,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Chevron during the 4th quarter valued at $3,017,750,000. Raymond James Financial Inc. bought a new stake in shares of Chevron in the fourth quarter worth $1,036,302,000. Bank of New York Mellon Corp increased its position 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 acquiring an additional 2,432,756 shares during the last quarter. Amundi lifted its holdings in Chevron by 27.7% in 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 acquiring an additional 1,910,262 shares during the period. Finally, Capital World Investors boosted its position in Chevron by 11.4% in the fourth quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock worth $2,039,288,000 after purchasing an additional 1,440,808 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

CVX traded down $0.23 during trading on Thursday, reaching $135.33. 8,867,412 shares of the company traded hands, compared to its average volume of 8,058,833. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The firm has a fifty day simple moving average of $145.61 and a 200 day simple moving average of $151.50. 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 $236.34 billion, a P/E ratio of 13.92, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. Chevron's quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the company posted $2.93 earnings per share. On average, equities analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.05%. Chevron's payout ratio is 78.17%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CVX. Raymond James reduced their price target on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Redburn Atlantic reiterated a "sell" rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. HSBC lowered Chevron from a "buy" rating to a "hold" rating and cut their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. TD Cowen decreased their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Finally, Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price 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.