Chevron Corporation (NYSE:CVX) Shares Sold by Sunbelt Securities Inc.

Sunbelt Securities Inc. reduced its holdings in shares of Chevron Corporation (NYSE:CVX) by 29.9% during the 1st quarter, HoldingsChannel reports. The firm owned 24,991 shares of the oil and gas company’s stock after selling 10,646 shares during the period. Sunbelt Securities Inc.’s holdings in Chevron were worth $4,181,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Eagle Capital Management LLC increased its holdings in shares of Chevron by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock valued at $5,011,000 after purchasing an additional 242 shares during the period. Bank Pictet & Cie Europe AG increased its stake in Chevron by 7.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock valued at $5,212,000 after buying an additional 2,641 shares during the period. NewEdge Wealth LLC increased its stake in Chevron by 2.1% in the 4th quarter. NewEdge Wealth LLC now owns 57,277 shares of the oil and gas company’s stock valued at $8,296,000 after buying an additional 1,153 shares during the period. Proficio Capital Partners LLC raised its position in Chevron by 22,996.9% during the 4th quarter. Proficio Capital Partners LLC now owns 847,425 shares of the oil and gas company’s stock worth $122,741,000 after buying an additional 843,756 shares during the last quarter. Finally, CORDA Investment Management LLC. lifted its stake in shares of Chevron by 24.0% in the 4th quarter. CORDA Investment Management LLC. now owns 13,806 shares of the oil and gas company’s stock worth $2,000,000 after acquiring an additional 2,670 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 0.4%

CVX opened at $143.87 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The company has a market cap of $251.26 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 2.54 and a beta of 0.83. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The business’s fifty day moving average is $140.20 and its two-hundred day moving average is $148.27.

Chevron (NYSE:CVX) last released its quarterly earnings data 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 analyst estimates of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.93 EPS. Analysts anticipate that Chevron Corporation 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. Shareholders of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CVX. Redburn Atlantic reiterated a “sell” rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. UBS Group lowered their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Hsbc Global Res cut Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Finally, 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 note on Tuesday, May 6th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $160.29.

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.