Chevron Co. (NYSE:CVX) Shares Sold by Thompson Investment Management Inc.

Thompson Investment Management Inc. lowered its holdings in Chevron Co. (NYSE:CVX) by 4.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,471 shares of the oil and gas company’s stock after selling 1,990 shares during the quarter. Thompson Investment Management Inc.’s holdings in Chevron were worth $6,603,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Chevron during the fourth quarter valued at $3,017,750,000. Raymond James Financial Inc. acquired a new stake in Chevron during the fourth quarter valued at $1,036,302,000. GAMMA Investing LLC grew its position in Chevron by 21,191.5% during the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock valued at $904,746,000 after buying an additional 5,382,847 shares during the period. Bank of New York Mellon Corp grew its position in Chevron by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock valued at $2,389,380,000 after buying an additional 2,432,756 shares during the period. Finally, Amundi grew its position in Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock valued at $1,323,549,000 after buying an additional 1,910,262 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on CVX. Hsbc Global Res lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Redburn Atlantic restated a “sell” rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. TD Cowen dropped their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Mizuho dropped their target price on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Finally, Barclays lowered shares of Chevron from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $160.24.

Chevron Stock Performance

CVX opened at $144.83 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $252.93 billion, a PE ratio of 14.90, a PEG ratio of 1.46 and a beta of 0.83. The firm’s 50-day moving average price is $138.24 and its 200 day moving average price is $149.42. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96.

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

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s payout ratio is currently 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.