Sterling Financial Group Inc. Sells 294 Shares of Chevron Co. (NYSE:CVX)

Sterling Financial Group Inc. trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 6.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,251 shares of the oil and gas company’s stock after selling 294 shares during the period. Sterling Financial Group Inc.’s holdings in Chevron were worth $711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. IMG Wealth Management Inc. bought a new stake in Chevron during the fourth quarter valued at about $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron in the 4th quarter valued at about $29,000. 10Elms LLP purchased a new position in shares of Chevron in the 4th quarter worth approximately $29,000. Fairway Wealth LLC raised its stake in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 88 shares in the last quarter. Finally, IFS Advisors LLC increased its position in shares of Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CVX. Redburn Atlantic reiterated a “sell” rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a research report on Tuesday, May 6th. BNP Paribas downgraded Chevron to a “cautious” rating in a report on Tuesday, April 15th. UBS Group cut their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Finally, Mizuho dropped their price objective on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $160.24.

Chevron Stock Performance

NYSE CVX opened at $144.83 on Thursday. The stock has a market capitalization of $252.93 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The stock has a 50-day moving average of $138.24 and a 200 day moving average of $149.42. 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 issued its quarterly earnings results 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 firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. Chevron’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the company posted $2.93 EPS. Sell-side analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is 78.17%.

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.