Midland Wealth Advisors LLC Sells 876 Shares of Chevron Co. (NYSE:CVX)

Midland Wealth Advisors LLC lowered its holdings in Chevron Co. (NYSE:CVX) by 6.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 13,682 shares of the oil and gas company’s stock after selling 876 shares during the quarter. Midland Wealth Advisors LLC’s holdings in Chevron were worth $2,289,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. International Private Wealth Advisors LLC increased its position in shares of Chevron by 5.4% in the first quarter. International Private Wealth Advisors LLC now owns 1,870 shares of the oil and gas company’s stock worth $313,000 after purchasing an additional 96 shares during the last quarter. Tounjian Advisory Partners LLC bought a new position in shares of Chevron in the 1st quarter worth $2,826,000. Cetera Trust Company N.A raised its position in shares of Chevron by 16.3% during the 1st quarter. Cetera Trust Company N.A now owns 9,106 shares of the oil and gas company’s stock valued at $1,523,000 after buying an additional 1,275 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Chevron by 25.8% during the 1st quarter. Farther Finance Advisors LLC now owns 90,290 shares of the oil and gas company’s stock valued at $15,215,000 after buying an additional 18,538 shares in the last quarter. Finally, City Holding Co. lifted its holdings in shares of Chevron by 0.9% during the 1st quarter. City Holding Co. now owns 38,720 shares of the oil and gas company’s stock worth $6,477,000 after acquiring an additional 346 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CVX. Mizuho reduced their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Hsbc Global Res lowered Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Wells Fargo & Company dropped their target price on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Redburn Atlantic reaffirmed a “sell” rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Finally, UBS Group decreased their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Three 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. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Hold” and an average target price of $160.24.

Chevron Price Performance

Shares of Chevron stock opened at $140.21 on Monday. The company’s fifty day simple moving average is $138.98 and its two-hundred day simple moving average is $149.65. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The firm has a market cap of $244.86 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted 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 net margin of 8.71% and a return on equity of 11.44%. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same period in the prior year, the business posted $2.93 earnings per share. Chevron’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, equities analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.88%. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Chevron 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.