Chevron Corporation (NYSE:CVX) Shares Sold by Spirit of America Management Corp NY

Spirit of America Management Corp NY lessened its holdings in Chevron Corporation (NYSE:CVX) by 13.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,590 shares of the oil and gas company’s stock after selling 9,900 shares during the period. Chevron comprises approximately 2.2% of Spirit of America Management Corp NY’s portfolio, making the stock its 7th biggest position. Spirit of America Management Corp NY’s holdings in Chevron were worth $10,638,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Parkside Financial Bank & Trust lifted its position in Chevron by 0.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock worth $2,207,000 after acquiring an additional 66 shares during the last quarter. Berkeley Capital Partners LLC lifted its position in Chevron by 0.4% during the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock worth $2,572,000 after acquiring an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its position in Chevron by 6.1% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company’s stock worth $171,000 after acquiring an additional 68 shares during the last quarter. Acorn Wealth Advisors LLC lifted its position in Chevron by 3.4% during the fourth quarter. Acorn Wealth Advisors LLC now owns 2,092 shares of the oil and gas company’s stock worth $303,000 after acquiring an additional 69 shares during the last quarter. Finally, Unionview LLC lifted its position in Chevron by 3.4% during the fourth quarter. Unionview LLC now owns 2,149 shares of the oil and gas company’s stock worth $311,000 after acquiring an additional 70 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on CVX shares. Mizuho cut their price objective on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. UBS Group cut their price objective 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 downgraded shares of Chevron from a “buy” rating to a “hold” rating and dropped their price target for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Redburn Atlantic reiterated a “sell” rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, Hsbc Global Res downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $160.24.

Chevron Stock Down 0.4%

Shares of CVX opened at $148.18 on Friday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a market cap of $258.78 billion, a P/E ratio of 16.93, a P/E/G ratio of 2.60 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The firm has a 50 day simple moving average of $139.09 and a two-hundred day simple moving average of $148.81.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the previous year, the business earned $2.93 earnings per share. The company’s revenue was down 2.3% on a year-over-year basis. Research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.62%. Chevron’s dividend payout ratio is currently 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.