Synergy Asset Management LLC Sells 264 Shares of Chevron Corporation (NYSE:CVX)

Synergy Asset Management LLC reduced its holdings in Chevron Corporation (NYSE:CVX) by 0.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,631 shares of the oil and gas company’s stock after selling 264 shares during the quarter. Chevron comprises 1.1% of Synergy Asset Management LLC’s investment portfolio, making the stock its 23rd largest position. Synergy Asset Management LLC’s holdings in Chevron were worth $8,972,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Parkside Financial Bank & Trust boosted its position in 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 valued at $2,207,000 after acquiring an additional 66 shares in the last quarter. Berkeley Capital Partners LLC boosted its position in 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 valued at $2,572,000 after acquiring an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its position in Chevron by 6.1% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company’s stock valued at $171,000 after acquiring an additional 68 shares in the last quarter. Acorn Wealth Advisors LLC boosted its position in Chevron by 3.4% during the 4th quarter. Acorn Wealth Advisors LLC now owns 2,092 shares of the oil and gas company’s stock valued at $303,000 after acquiring an additional 69 shares in the last quarter. Finally, Wealthstream Advisors Inc. boosted its position in Chevron by 4.4% during the 4th quarter. Wealthstream Advisors Inc. now owns 1,664 shares of the oil and gas company’s stock valued at $241,000 after acquiring an additional 70 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Shares of Chevron stock opened at $149.36 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The business has a 50-day moving average price of $139.37 and a 200 day moving average price of $148.65. The firm has a market cap of $260.84 billion, a PE ratio of 17.07, a P/E/G ratio of 2.63 and a beta of 0.83.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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 return on equity of 10.73% and a net margin of 7.76%. The company had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same period in the previous year, the firm posted $2.93 EPS. Chevron’s revenue was down 2.3% compared to the same quarter last year. Sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s payout ratio is 78.17%.

Analyst Ratings Changes

A number of analysts have recently weighed in on CVX shares. Mizuho lowered their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. BNP Paribas cut Chevron to a “cautious” rating in a research report on Tuesday, April 15th. TD Cowen lowered their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Redburn Atlantic reissued a “sell” rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, Hsbc Global Res cut Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $160.24.

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.