AMI Asset Management Corp Sells 125 Shares of Chevron Corporation (NYSE:CVX)

AMI Asset Management Corp cut its holdings in Chevron Corporation (NYSE:CVX) by 1.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,491 shares of the oil and gas company’s stock after selling 125 shares during the period. AMI Asset Management Corp’s holdings in Chevron were worth $1,086,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Creative Financial Designs Inc. ADV increased its stake in shares of Chevron by 1.7% in the first quarter. Creative Financial Designs Inc. ADV now owns 22,086 shares of the oil and gas company’s stock worth $3,695,000 after purchasing an additional 365 shares during the period. Nova R Wealth Inc. increased its stake in shares of Chevron by 3.0% in the first quarter. Nova R Wealth Inc. now owns 4,506 shares of the oil and gas company’s stock worth $754,000 after purchasing an additional 131 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Chevron by 3.0% in the first quarter. Sequoia Financial Advisors LLC now owns 134,459 shares of the oil and gas company’s stock worth $22,494,000 after purchasing an additional 3,932 shares during the period. Kavar Capital Partners Group LLC increased its stake in shares of Chevron by 4.5% in the first quarter. Kavar Capital Partners Group LLC now owns 22,510 shares of the oil and gas company’s stock worth $3,766,000 after purchasing an additional 979 shares during the period. Finally, Pure Financial Advisors LLC increased its stake in shares of Chevron by 23.2% in the first quarter. Pure Financial Advisors LLC now owns 20,052 shares of the oil and gas company’s stock worth $3,355,000 after purchasing an additional 3,776 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Down 0.0%

Shares of CVX opened at $143.49 on Thursday. The company has a market capitalization of $250.59 billion, a P/E ratio of 16.40, a PEG ratio of 2.52 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. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The business’s 50 day simple moving average is $139.95 and its 200-day simple moving average is $148.45.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. Chevron’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.93 EPS. As a group, sell-side analysts predict 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 issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio is 78.17%.

Analyst Ratings Changes

Several brokerages recently issued reports on CVX. Mizuho lowered their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Piper Sandler lowered their price target on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. BNP Paribas lowered Chevron to a “cautious” rating in a research note on Tuesday, April 15th. UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Finally, Wells Fargo & Company lowered their price target on Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $160.24.

Chevron Company Profile

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.