Sequoia Financial Advisors LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 21.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,729 shares of the oil and gas company’s stock after selling 3,460 shares during the period. Sequoia Financial Advisors LLC’s holdings in Chevron were worth $922,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. MainStreet Investment Advisors LLC increased its position in shares of Chevron by 15.7% during the first quarter. MainStreet Investment Advisors LLC now owns 115,279 shares of the oil and gas company’s stock valued at $8,353,000 after buying an additional 15,661 shares during the period. Argent Trust Co increased its position in shares of Chevron by 8.9% during the first quarter. Argent Trust Co now owns 131,195 shares of the oil and gas company’s stock valued at $9,506,000 after buying an additional 10,674 shares during the period. Cardan Capital Partners LLC increased its position in shares of Chevron by 92.1% during the first quarter. Cardan Capital Partners LLC now owns 4,210 shares of the oil and gas company’s stock valued at $305,000 after buying an additional 2,018 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Chevron by 5.4% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 639,782 shares of the oil and gas company’s stock valued at $46,359,000 after buying an additional 32,788 shares during the period. Finally, Nicholas Hoffman & Company LLC. increased its position in shares of Chevron by 29.0% during the first quarter. Nicholas Hoffman & Company LLC. now owns 17,358 shares of the oil and gas company’s stock valued at $1,258,000 after buying an additional 3,901 shares during the period. Hedge funds and other institutional investors own 66.54% of the company’s stock.
Shares of Chevron stock traded down $1.76 during midday trading on Friday, reaching $90.28. 8,560,331 shares of the company’s stock traded hands, compared to its average volume of 10,544,008. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.78 and a current ratio of 1.01. The company has a market cap of $171.84 billion, a PE ratio of 44.04 and a beta of 1.31. The stock has a 50 day moving average of $86.77 and a 200-day moving average of $102.43. Chevron Co. has a 12 month low of $51.60 and a 12 month high of $127.00.
Chevron (NYSE:CVX) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $1.29. The company had revenue of $31.50 billion during the quarter, compared to the consensus estimate of $30.46 billion. Chevron had a return on equity of 8.28% and a net margin of 2.71%. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.47 earnings per share. On average, equities analysts anticipate that Chevron Co. will post -0.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be issued a dividend of $1.29 per share. The ex-dividend date is Monday, May 18th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 5.72%. Chevron’s dividend payout ratio is presently 82.30%.
CVX has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price target on Chevron from $97.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Jefferies Financial Group restated a “buy” rating and issued a $92.00 price objective on shares of Chevron in a research report on Friday, May 1st. Argus restated a “buy” rating and issued a $88.00 price objective (down from $150.00) on shares of Chevron in a research report on Thursday, March 26th. TheStreet cut shares of Chevron from a “b-” rating to a “c+” rating in a research report on Thursday, February 27th. Finally, Mizuho decreased their price objective on shares of Chevron from $140.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $113.05.
In other Chevron news, Director John Frank bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average price of $96.59 per share, for a total transaction of $96,590.00. Following the completion of the acquisition, the director now directly owns 5,114 shares in the company, valued at $493,961.26. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is owned by corporate insiders.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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