Chevron Co. (NYSE:CVX) Position Trimmed by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC cut its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 702,970 shares of the oil and gas company's stock after selling 8,645 shares during the quarter. Silvercrest Asset Management Group LLC's holdings in Chevron were worth $101,818,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVX. Life Planning Partners Inc acquired a new stake in shares of Chevron during the 4th quarter valued at approximately $25,000. IMG Wealth Management Inc. acquired a new stake in shares of Chevron during the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron during the 4th quarter valued at approximately $29,000. Fairway Wealth LLC raised its position in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after acquiring an additional 88 shares in the last quarter. Finally, Navigoe LLC bought a new position in Chevron during the 4th quarter worth $33,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent research reports. Scotiabank downgraded Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Wells Fargo & Company lowered their price objective on Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Redburn Atlantic restated a "sell" rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Truist Financial lowered their price objective on Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Price Performance

NYSE:CVX traded down $0.56 during mid-day trading on Tuesday, reaching $137.93. 2,957,165 shares of the stock were exchanged, compared to its average volume of 8,012,373. The business has a fifty day moving average price of $146.37 and a 200 day moving average price of $151.71. The firm has a market capitalization of $240.88 billion, a PE ratio of 14.19, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

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 for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion for 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%. Chevron's revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the business posted $2.93 EPS. Research analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.96%. Chevron's dividend payout ratio is currently 78.17%.

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.