Chevron Co. (NYSE:CVX) Shares Sold by Glen Eagle Advisors LLC

Glen Eagle Advisors LLC lowered its position in shares of Chevron Co. (NYSE:CVX) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,979 shares of the oil and gas company’s stock after selling 97 shares during the period. Glen Eagle Advisors LLC’s holdings in Chevron were worth $576,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. Life Planning Partners Inc acquired a new position in Chevron in the 4th quarter valued at about $25,000. IMG Wealth Management Inc. acquired a new position in Chevron in the 4th quarter valued at about $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron in the 4th quarter valued at about $29,000. Fairway Wealth LLC increased its position in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 88 shares during the period. Finally, Navigoe LLC acquired a new position in Chevron in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $160.00 to $143.00 in a report on Friday, April 11th. HSBC lowered Chevron from a “buy” rating to a “hold” rating and lowered their price objective for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. TD Cowen lowered their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, May 5th. 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. Finally, DZ Bank lowered Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective on the stock. in a report on Tuesday, May 6th. Three equities research 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, Chevron currently has a consensus rating of “Hold” and an average price target of $160.24.

Chevron Price Performance

Shares of NYSE:CVX opened at $137.21 on Wednesday. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The stock has a market cap of $239.62 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The business’s fifty day moving average price is $146.04 and its two-hundred day moving average price is $151.61. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last issued its quarterly 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 11.44% and a net margin of 8.71%. The company had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the prior year, the company posted $2.93 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s dividend payout ratio 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.