Chevron Corporation (NYSE:CVX) Position Lessened by Valicenti Advisory Services Inc.

Valicenti Advisory Services Inc. trimmed its position in shares of Chevron Corporation (NYSE:CVX) by 0.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 55,279 shares of the oil and gas company’s stock after selling 490 shares during the quarter. Chevron comprises about 2.4% of Valicenti Advisory Services Inc.’s holdings, making the stock its 15th biggest position. Valicenti Advisory Services Inc.’s holdings in Chevron were worth $9,248,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Chevron during the fourth quarter valued at about $3,017,750,000. Raymond James Financial Inc. bought a new position in Chevron during the fourth quarter valued at about $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 valued at $904,746,000 after buying an additional 5,382,847 shares in the last quarter. Amundi raised its holdings in Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock valued at $1,323,549,000 after buying an additional 1,910,262 shares in the last quarter. Finally, Capital World Investors raised its holdings in Chevron by 11.4% during the fourth quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company’s stock valued at $2,039,288,000 after buying an additional 1,440,808 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Down 0.0%

CVX stock opened at $143.49 on Thursday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a market cap of $250.59 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 2.52 and a beta of 0.83. The business’s 50-day simple moving average is $139.95 and its 200 day simple moving average is $148.45. 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 released its 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. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period last year, the business earned $2.93 earnings per share. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. TD Cowen cut their target price on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, May 5th. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $160.00 to $143.00 in a research report on Friday, April 11th. DZ Bank downgraded Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target on the stock. in a research report on Tuesday, May 6th. Redburn Atlantic reaffirmed 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, BNP Paribas downgraded Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.