Y Intercept Hong Kong Ltd Has $2.18 Million Stake in Chevron Corporation (NYSE:CVX)

Y Intercept Hong Kong Ltd cut its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 73.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,031 shares of the oil and gas company's stock after selling 36,142 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Chevron were worth $2,180,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Mizuho Securities Co. Ltd. purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $29,000. 10Elms LLP purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $29,000. IFS Advisors LLC lifted its position in shares of Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after acquiring an additional 116 shares in the last quarter. Navigoe LLC purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $33,000. Finally, Cloud Capital Management LLC purchased a new stake in shares of Chevron in the 1st quarter valued at approximately $39,000. 72.42% of the stock is owned by institutional investors.

Chevron Stock Down 0.6%

Shares of CVX traded down $1.00 during mid-day trading on Friday, hitting $154.84. 7,872,671 shares of the company's stock were exchanged, compared to its average volume of 12,051,790. The firm has a fifty day moving average of $145.12 and a two-hundred day moving average of $148.82. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The stock has a market cap of $270.40 billion, a price-to-earnings ratio of 17.70, a P/E/G ratio of 2.44 and a beta of 0.83. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm's revenue was down 2.3% compared to the same quarter last year. During the same period last year, the business posted $2.93 earnings per share. On average, sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current 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 given a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.42%. Chevron's dividend payout ratio is 78.17%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. UBS Group reduced their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Wells Fargo & Company boosted their price objective on shares of Chevron from $165.00 to $178.00 and gave the company an "overweight" rating in a research report on Wednesday. Scotiabank reiterated a "sector perform" rating and issued a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Finally, HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and decreased their target price for the company from $176.00 to $158.00 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 stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of "Hold" and an average target price of $162.13.

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.