Highland Capital Management LLC Decreases Holdings in Chevron Corporation (NYSE:CVX)

Highland Capital Management LLC decreased its position in shares of Chevron Corporation (NYSE:CVX) by 0.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,712 shares of the oil and gas company’s stock after selling 626 shares during the period. Chevron accounts for 0.8% of Highland Capital Management LLC’s holdings, making the stock its 24th biggest position. Highland Capital Management LLC’s holdings in Chevron were worth $13,837,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Parkside Financial Bank & Trust raised its holdings in shares of Chevron by 0.4% during the fourth 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. Berkeley Capital Partners LLC grew its position in Chevron by 0.4% during the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock valued at $2,572,000 after buying an additional 67 shares during the period. CBIZ Investment Advisory Services LLC grew its position in Chevron by 6.1% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company’s stock valued at $171,000 after buying an additional 68 shares during the period. CoreCap Advisors LLC grew its position in Chevron by 0.3% during the fourth quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company’s stock valued at $4,091,000 after buying an additional 71 shares during the period. Finally, Fairscale Capital LLC grew its position in Chevron by 11.5% during the fourth quarter. Fairscale Capital LLC now owns 706 shares of the oil and gas company’s stock valued at $102,000 after buying an additional 73 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

CVX opened at $143.87 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. The company has a market cap of $251.26 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 2.54 and a beta of 0.83. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The firm’s fifty day simple moving average is $140.20 and its two-hundred day simple moving average is $148.27.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the firm posted $2.93 earnings per share. Equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.75%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio is currently 78.17%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. TD Cowen dropped their price target on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. UBS Group dropped their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. BNP Paribas lowered shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Barclays lowered shares of Chevron from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Finally, Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $160.29.

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.