Chevron Corporation (NYSE:CVX) Stock Holdings Cut by AMI Asset Management Corp

AMI Asset Management Corp reduced its position in shares of Chevron Corporation (NYSE:CVX) by 1.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,491 shares of the oil and gas company’s stock after selling 125 shares during the quarter. AMI Asset Management Corp’s holdings in Chevron were worth $1,086,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV boosted its stake in Chevron by 1.7% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 22,086 shares of the oil and gas company’s stock valued at $3,695,000 after purchasing an additional 365 shares in the last quarter. Nova R Wealth Inc. boosted its stake in Chevron by 3.0% during the 1st quarter. Nova R Wealth Inc. now owns 4,506 shares of the oil and gas company’s stock valued at $754,000 after purchasing an additional 131 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Chevron by 3.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 134,459 shares of the oil and gas company’s stock valued at $22,494,000 after purchasing an additional 3,932 shares in the last quarter. Kavar Capital Partners Group LLC boosted its stake in Chevron by 4.5% during the 1st quarter. Kavar Capital Partners Group LLC now owns 22,510 shares of the oil and gas company’s stock valued at $3,766,000 after purchasing an additional 979 shares in the last quarter. Finally, Pure Financial Advisors LLC boosted its stake in Chevron by 23.2% during the 1st quarter. Pure Financial Advisors LLC now owns 20,052 shares of the oil and gas company’s stock valued at $3,355,000 after purchasing an additional 3,776 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

Shares of NYSE:CVX opened at $143.49 on Thursday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The business has a fifty day simple moving average of $139.95 and a 200 day simple moving average of $148.45. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The firm has a market cap of $250.59 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 2.52 and a beta of 0.83.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period last year, the company earned $2.93 earnings per share. The business’s revenue was down 2.3% compared to the same quarter last year. As a group, sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Wall Street Analyst Weigh In

CVX has been the subject of several research reports. Hsbc Global Res lowered Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. BNP Paribas lowered Chevron to a “cautious” rating in a research note on Tuesday, April 15th. TD Cowen reduced their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, May 5th. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Finally, DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a research report on Tuesday, May 6th. Three 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.