Milestone Asset Management LLC Sells 11,737 Shares of Chevron Co. (NYSE:CVX)

Milestone Asset Management LLC reduced its stake in Chevron Co. (NYSE:CVX) by 46.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,584 shares of the oil and gas company’s stock after selling 11,737 shares during the period. Milestone Asset Management LLC’s holdings in Chevron were worth $2,273,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CVX. Norges Bank bought a new position in Chevron in the fourth quarter worth about $3,017,750,000. Raymond James Financial Inc. purchased a new stake in Chevron in the fourth quarter worth about $1,036,302,000. GAMMA Investing LLC grew its holdings in Chevron by 21,191.5% in the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock worth $904,746,000 after purchasing an additional 5,382,847 shares during the period. Bank of New York Mellon Corp grew its holdings in Chevron by 17.3% in the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after purchasing an additional 2,432,756 shares during the period. Finally, Amundi grew its holdings in Chevron by 27.7% in the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock worth $1,323,549,000 after purchasing an additional 1,910,262 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Stock Down 1.1%

Shares of Chevron stock opened at $136.43 on Monday. The company has a market cap of $238.26 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company’s 50 day moving average is $141.88 and its 200 day moving average is $150.44. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued 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 company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.93 earnings per share. Research analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed 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 78.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CVX shares. BNP Paribas cut shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Raymond James cut their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. TD Cowen cut their price objective on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, May 5th. Piper Sandler cut their price target on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Finally, Barclays cut shares of Chevron from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Three 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, the company presently has an average rating of “Hold” and a consensus price target 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.