Chevron Corporation (NYSE:CVX) Stock Position Lessened by International Assets Investment Management LLC

International Assets Investment Management LLC trimmed its holdings in shares of Chevron Corporation (NYSE:CVX) by 8.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,988 shares of the oil and gas company’s stock after selling 2,686 shares during the period. International Assets Investment Management LLC’s holdings in Chevron were worth $4,849,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in shares of Chevron during the 4th quarter worth about $3,017,750,000. Raymond James Financial Inc. acquired a new position in shares of Chevron during the fourth quarter valued at approximately $1,036,302,000. GAMMA Investing LLC raised its holdings in Chevron by 21,191.5% during the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock worth $904,746,000 after purchasing an additional 5,382,847 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Chevron by 17.3% in the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after purchasing an additional 2,432,756 shares during the period. Finally, Amundi boosted its stake in Chevron by 27.7% during the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock valued at $1,323,549,000 after purchasing an additional 1,910,262 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

NYSE CVX opened at $143.67 on Wednesday. The stock has a market capitalization of $250.90 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 2.58 and a beta of 0.83. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a 50 day moving average price of $139.78 and a two-hundred day moving average price of $148.49. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX) last announced 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 company had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.93 earnings per share. As a group, equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio is 78.17%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. UBS Group dropped their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. TD Cowen dropped their price target on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. BNP Paribas lowered shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Barclays cut shares of Chevron from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Finally, HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and cut their target price for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.