Chevron Co. (NYSE:CVX) Shares Sold by Bfsg LLC

Bfsg LLC trimmed its holdings in Chevron Co. (NYSE:CVX) by 5.5% in the first quarter, HoldingsChannel.com reports. The firm owned 20,568 shares of the oil and gas company’s stock after selling 1,200 shares during the quarter. Bfsg LLC’s holdings in Chevron were worth $3,441,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVX. IMG Wealth Management Inc. purchased a new stake in Chevron in the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Chevron in the fourth quarter valued at approximately $29,000. 10Elms LLP purchased a new stake in Chevron in the fourth quarter valued at approximately $29,000. Fairway Wealth LLC lifted its stake in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 88 shares during the last quarter. Finally, IFS Advisors LLC lifted its stake in Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 116 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVX has been the subject of several analyst reports. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a research note on Tuesday, May 6th. Wells Fargo & Company cut their price target on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. UBS Group cut their price target on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Finally, Hsbc Global Res cut Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $160.24.

Chevron Stock Up 0.1%

CVX opened at $146.07 on Tuesday. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock’s fifty day moving average is $138.72 and its 200-day moving average is $148.91. The company has a market capitalization of $255.09 billion, a PE ratio of 15.03, a P/E/G ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The business 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%. The company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.93 EPS. On average, equities analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s payout ratio is 78.17%.

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.