Kingsview Wealth Management LLC Trims Stake in Chevron Corporation (NYSE:CVX)

Kingsview Wealth Management LLC reduced its position in shares of Chevron Corporation (NYSE:CVX) by 1.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 103,544 shares of the oil and gas company’s stock after selling 1,541 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Chevron were worth $17,322,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Eagle Capital Management LLC increased its holdings in shares of Chevron by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock valued at $5,011,000 after acquiring an additional 242 shares during the period. Bank Pictet & Cie Europe AG increased its holdings in shares of Chevron by 7.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock valued at $5,212,000 after acquiring an additional 2,641 shares during the period. Proficio Capital Partners LLC grew its stake in Chevron by 59.5% during the 4th quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company’s stock worth $847,000 after buying an additional 2,182 shares during the last quarter. Compass Ion Advisors LLC grew its stake in Chevron by 3.2% during the 4th quarter. Compass Ion Advisors LLC now owns 6,121 shares of the oil and gas company’s stock worth $887,000 after buying an additional 190 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its stake in Chevron by 64.4% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,692 shares of the oil and gas company’s stock worth $821,000 after buying an additional 2,230 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

NYSE CVX opened at $149.96 on Thursday. The stock has a market capitalization of $261.88 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 2.56 and a beta of 0.83. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. 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 stock has a 50-day moving average of $143.53 and a 200 day moving average of $148.55.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter in the prior year, the firm posted $2.93 EPS. Chevron’s quarterly revenue was down 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.56%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s payout ratio is 78.17%.

Wall Street Analyst Weigh In

CVX has been the topic of several research analyst reports. TD Cowen dropped 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. Wells Fargo & Company restated an “overweight” rating and set a $165.00 target price (up from $164.00) on shares of Chevron in a research note on Thursday, June 26th. DZ Bank downgraded Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a research note on Tuesday, May 6th. Redburn Atlantic restated a “sell” rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Finally, HSBC downgraded Chevron from a “buy” rating to a “hold” rating and dropped their target price for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $161.65.

Chevron Company 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.