Xponance Inc. Sells 1,672 Shares of Chevron Corporation (NYSE:CVX)

Xponance Inc. lessened its stake in Chevron Corporation (NYSE:CVX - Free Report) by 0.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 223,728 shares of the oil and gas company's stock after selling 1,672 shares during the quarter. Xponance Inc.'s holdings in Chevron were worth $37,427,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CVX. Norges Bank purchased a new position in Chevron in the 4th quarter valued at about $3,017,750,000. GAMMA Investing LLC grew its position in shares of Chevron by 21,191.5% during the 1st 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. Capital World Investors grew its position in shares of Chevron by 11.4% during the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock valued at $2,039,288,000 after buying an additional 1,440,808 shares during the last quarter. Northern Trust Corp grew its position in shares of Chevron by 7.3% during the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock valued at $2,965,135,000 after buying an additional 1,394,091 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Chevron by 6.9% during the 4th quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company's stock valued at $2,176,579,000 after buying an additional 964,426 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wells Fargo & Company restated an "overweight" rating and issued a $165.00 target price (up previously from $164.00) on shares of Chevron in a research report on Thursday, June 26th. UBS Group reduced their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. HSBC downgraded shares of Chevron from a "buy" rating to a "hold" rating and reduced their price target for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Finally, Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $161.65.

Chevron Stock Performance

NYSE CVX traded up $1.21 during midday trading on Friday, hitting $155.38. The company had a trading volume of 8,332,244 shares, compared to its average volume of 8,352,057. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The stock has a market cap of $271.35 billion, a price-to-earnings ratio of 17.76, a P/E/G ratio of 2.61 and a beta of 0.83. The firm has a fifty day simple moving average of $142.28 and a two-hundred day simple moving average of $148.33. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the firm earned $2.93 EPS. Equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date was Monday, May 19th. Chevron's payout ratio is 78.17%.

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.