Chevron Corporation (NYSE:CVX) Shares Sold by Valicenti Advisory Services Inc.

Valicenti Advisory Services Inc. reduced its holdings in Chevron Corporation (NYSE:CVX) by 0.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,279 shares of the oil and gas company’s stock after selling 490 shares during the quarter. Chevron accounts for 2.4% of Valicenti Advisory Services Inc.’s portfolio, making the stock its 15th largest position. Valicenti Advisory Services Inc.’s holdings in Chevron were worth $9,248,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Adams Diversified Equity Fund Inc. boosted its stake in Chevron by 72.6% during the 1st quarter. Adams Diversified Equity Fund Inc. now owns 137,900 shares of the oil and gas company’s stock valued at $23,069,000 after purchasing an additional 58,000 shares in the last quarter. Mattern Capital Management LLC boosted its stake in Chevron by 9.3% during the 1st quarter. Mattern Capital Management LLC now owns 6,660 shares of the oil and gas company’s stock valued at $1,114,000 after purchasing an additional 567 shares in the last quarter. Riverbend Wealth Management LLC boosted its stake in Chevron by 6.1% during the 1st quarter. Riverbend Wealth Management LLC now owns 6,341 shares of the oil and gas company’s stock valued at $1,061,000 after purchasing an additional 367 shares in the last quarter. E&G Advisors LP boosted its stake in Chevron by 1.4% during the 1st quarter. E&G Advisors LP now owns 7,484 shares of the oil and gas company’s stock valued at $1,252,000 after purchasing an additional 100 shares in the last quarter. Finally, S.A. Mason LLC boosted its stake in Chevron by 1.9% during the 1st quarter. S.A. Mason LLC now owns 9,285 shares of the oil and gas company’s stock valued at $1,553,000 after purchasing an additional 171 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

CVX opened at $143.49 on Thursday. The stock has a fifty day moving average of $139.95 and a 200-day moving average of $148.45. The firm has a market capitalization of $250.59 billion, a P/E ratio of 16.40, a PEG ratio of 2.52 and a beta of 0.83. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX) last released its 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 company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.93 earnings per share. Equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.77%. Chevron’s dividend payout ratio is 78.17%.

Analyst Ratings Changes

A number of brokerages have issued reports on CVX. Barclays lowered Chevron from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Piper Sandler cut their price objective on Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company reduced their price objective on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Finally, UBS Group reduced their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Three 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. According to MarketBeat, Chevron currently has an average rating of “Hold” and a consensus target price of $160.24.

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.