Focus Financial Network Inc. Sells 121 Shares of Chevron Co. (NYSE:CVX)

Focus Financial Network Inc. reduced its position in Chevron Co. (NYSE:CVX) by 0.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,816 shares of the oil and gas company’s stock after selling 121 shares during the period. Focus Financial Network Inc.’s holdings in Chevron were worth $2,813,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. TFB Advisors LLC raised its stake in Chevron by 2.4% during the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock valued at $411,000 after purchasing an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. raised its position in shares of Chevron by 1.4% during the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock valued at $677,000 after buying an additional 66 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Chevron by 0.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock valued at $2,207,000 after acquiring an additional 66 shares during the last quarter. Berkeley Capital Partners LLC grew its position in Chevron by 0.4% in the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock worth $2,572,000 after acquiring an additional 67 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC increased its stake in Chevron by 6.1% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company’s stock worth $171,000 after acquiring an additional 68 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Trading Up 1.0%

Shares of NYSE CVX opened at $144.83 on Thursday. The stock has a market capitalization of $252.93 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. 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 business has a fifty day moving average price of $138.24 and a 200 day moving average price of $149.42.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share 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 analyst estimates of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company’s revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.93 earnings per share. Equities research analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.72%. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

Analyst Ratings Changes

CVX has been the subject of a number of recent research reports. UBS Group dropped their target price on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. Barclays lowered shares of Chevron from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $160.00 to $143.00 in a research note on Friday, April 11th. BNP Paribas downgraded shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Finally, Piper Sandler decreased their price objective on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $160.24.

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.