Chevron Co. (NYSE:CVX) Shares Sold by Dumont & Blake Investment Advisors LLC

Dumont & Blake Investment Advisors LLC reduced its stake in Chevron Co. (NYSE:CVX) by 4.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 8,390 shares of the oil and gas company’s stock after selling 424 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Chevron were worth $1,404,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. IVC Wealth Advisors LLC lifted its holdings in Chevron by 5.1% during the 1st quarter. IVC Wealth Advisors LLC now owns 2,436 shares of the oil and gas company’s stock worth $408,000 after buying an additional 119 shares in the last quarter. Whitcomb & Hess Inc. acquired a new stake in Chevron during the 1st quarter worth approximately $225,000. Beese Fulmer Investment Management Inc. lifted its holdings in Chevron by 2.2% during the 1st quarter. Beese Fulmer Investment Management Inc. now owns 98,735 shares of the oil and gas company’s stock worth $16,517,000 after buying an additional 2,116 shares in the last quarter. Pacifica Partners Inc. lifted its holdings in Chevron by 3.2% during the 1st quarter. Pacifica Partners Inc. now owns 3,692 shares of the oil and gas company’s stock worth $576,000 after buying an additional 115 shares in the last quarter. Finally, Investors Research Corp lifted its holdings in Chevron by 6.3% during the 1st quarter. Investors Research Corp now owns 1,936 shares of the oil and gas company’s stock worth $324,000 after buying an additional 114 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Down 1.1%

NYSE CVX opened at $136.43 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm’s fifty day moving average price is $141.88 and its 200 day moving average price is $150.57. The company has a market capitalization of $238.26 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating 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 firm 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 firm posted $2.93 EPS. The company’s revenue was down 2.3% on a year-over-year basis. On average, sell-side analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 5.01%. The ex-dividend date is Monday, May 19th. Chevron’s payout ratio is currently 78.17%.

Wall Street Analyst Weigh In

CVX has been the topic of a number of analyst reports. Redburn Atlantic restated a “sell” rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. DZ Bank lowered shares of 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. Raymond James reduced their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company reduced their price objective on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Finally, BNP Paribas lowered shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.