Integrated Advisors Network LLC Decreases Stake in Chevron Co. (NYSE:CVX)

Integrated Advisors Network LLC lowered its position in Chevron Co. (NYSE:CVX) by 3.9% during the fourth quarter, HoldingsChannel reports. The firm owned 62,279 shares of the oil and gas company’s stock after selling 2,501 shares during the period. Integrated Advisors Network LLC’s holdings in Chevron were worth $9,020,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. TFB Advisors LLC grew its stake in Chevron by 2.4% in 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. lifted 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 worth $677,000 after purchasing an additional 66 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Chevron by 0.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock worth $2,207,000 after purchasing an additional 66 shares during the last quarter. Western Pacific Wealth Management LP lifted its position in shares of Chevron by 14.9% during the 4th quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company’s stock worth $75,000 after purchasing an additional 67 shares during the last quarter. Finally, Berkeley Capital Partners LLC lifted its position in shares of Chevron by 0.4% during the 4th quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock worth $2,572,000 after purchasing an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the subject of several research analyst reports. Barclays cut Chevron from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. BNP Paribas cut Chevron to a “cautious” rating in a report on Tuesday, April 15th. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a report on Tuesday, May 6th. HSBC cut Chevron from a “buy” rating to a “hold” rating and cut their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Finally, Raymond James cut their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $160.24.

Chevron Trading Up 1.0%

CVX stock opened at $136.66 on Friday. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a market cap of $238.66 billion, a P/E ratio of 14.06, a P/E/G ratio of 1.46 and a beta of 0.83. The business’s 50 day moving average is $144.66 and its 200-day moving average is $151.21. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping 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%. Chevron’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.93 EPS. Equities analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 5.01%. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

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.