Chevron Co. (NYSE:CVX) Shares Sold by Focus Financial Network Inc.

Focus Financial Network Inc. cut its stake in Chevron Co. (NYSE:CVX) by 0.7% in the first quarter, Holdings Channel reports. The fund owned 16,816 shares of the oil and gas company’s stock after selling 121 shares during the period. Focus Financial Network Inc.’s holdings in Chevron were worth $2,813,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Life Planning Partners Inc purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $25,000. IMG Wealth Management Inc. purchased a new position in Chevron in the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Chevron during the fourth quarter worth $29,000. 10Elms LLP purchased a new position in Chevron in the fourth quarter valued at $29,000. Finally, Fairway Wealth LLC increased its holdings in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 88 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 1.0%

NYSE CVX opened at $144.83 on Thursday. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The firm has a 50-day moving average price of $138.24 and a 200 day moving average price of $149.42. The stock has a market capitalization of $252.93 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the prior year, the company posted $2.93 earnings per share. Chevron’s quarterly revenue was down 2.3% on a year-over-year basis. Equities research analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.72%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is 78.17%.

Analyst Ratings Changes

CVX has been the topic of a number of recent research reports. UBS Group cut their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Redburn Atlantic reaffirmed a “sell” rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Mizuho decreased their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and decreased their price objective for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, Hsbc Global Res cut Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Chevron presently has a consensus rating of “Hold” and an average price target of $160.24.

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.