Chevron Co. (NYSE:CVX) Shares Sold by Compagnie Lombard Odier SCmA

Compagnie Lombard Odier SCmA lowered its position in shares of Chevron Co. (NYSE:CVX) by 47.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,880 shares of the oil and gas company’s stock after selling 5,346 shares during the period. Compagnie Lombard Odier SCmA’s holdings in Chevron were worth $984,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Capital & Planning LLC boosted its stake in Chevron by 15.2% in the fourth quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company’s stock valued at $243,000 after acquiring an additional 222 shares in the last quarter. Eagle Capital Management LLC boosted its stake in Chevron by 0.7% in the fourth 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 in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Chevron in the fourth quarter valued at $8,947,000. TFB Advisors LLC boosted 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 acquiring an additional 66 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Chevron by 18.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 263,872 shares of the oil and gas company’s stock valued at $38,712,000 after acquiring an additional 40,311 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 0.1%

NYSE CVX opened at $144.90 on Friday. The stock has a market capitalization of $253.05 billion, a P/E ratio of 14.91, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The firm has a 50-day moving average price of $138.35 and a 200 day moving average price of $149.32. 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 posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. During the same period in the prior year, the company posted $2.93 earnings per share. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts expect that Chevron Co. will post 10.79 EPS for the current 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 $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.72%. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Barclays downgraded shares of Chevron from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Scotiabank downgraded shares of 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 note on Friday, April 11th. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and decreased their target price for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Hsbc Global Res downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Finally, Piper Sandler decreased their target price on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.