Chevron Co. (NYSE:CVX) Shares Sold by Snowden Capital Advisors LLC

Snowden Capital Advisors LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 0.4% during the 4th quarter, HoldingsChannel reports. The fund owned 71,789 shares of the oil and gas company’s stock after selling 297 shares during the quarter. Snowden Capital Advisors LLC’s holdings in Chevron were worth $10,398,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in shares of Chevron by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock worth $5,247,142,000 after buying an additional 392,916 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Chevron by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after acquiring an additional 746,806 shares during the last quarter. Norges Bank purchased a new stake in Chevron in the fourth quarter valued at $3,017,750,000. Northern Trust Corp grew its holdings in shares of Chevron by 7.3% during the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock worth $2,965,135,000 after purchasing an additional 1,394,091 shares during the period. Finally, Fisher Asset Management LLC increased its position in shares of Chevron by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock worth $2,881,280,000 after purchasing an additional 410,460 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research analyst reports. BNP Paribas lowered shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. HSBC cut Chevron from a “buy” rating to a “hold” rating and decreased their price target for the stock from $176.00 to $158.00 in a research note on Tuesday. Raymond James dropped their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, Mizuho lowered their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Chevron currently has an average rating of “Hold” and a consensus price target of $160.24.

Chevron Stock Up 0.3%

Shares of Chevron stock opened at $142.14 on Friday. 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 Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a market capitalization of $248.23 billion, a P/E ratio of 14.62, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a 50 day moving average of $146.89 and a 200 day moving average of $151.81.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.93 EPS. As a group, research analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.81%. Chevron’s payout ratio is currently 78.17%.

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.