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

Midland Wealth Advisors LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 6.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. DZ Bank lowered Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a research report on Tuesday, May 6th. Barclays downgraded shares of Chevron from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Scotiabank cut shares of 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. Finally, TD Cowen cut their target price on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $160.24.

Chevron Stock Performance

Shares of CVX opened at $140.21 on Monday. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The stock’s 50-day simple moving average is $138.98 and its 200 day simple moving average is $149.65. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market capitalization of $244.86 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) 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 firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the prior year, the firm posted $2.93 earnings per share. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. Research analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

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

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.