Mediolanum International Funds Ltd Cuts Position in Chevron Corporation (NYSE:CVX)

Mediolanum International Funds Ltd decreased its holdings in Chevron Corporation (NYSE:CVX) by 26.2% in the first quarter, HoldingsChannel.com reports. The firm owned 156,817 shares of the oil and gas company’s stock after selling 55,642 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Chevron were worth $26,046,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. CoreCap Advisors LLC increased its holdings in Chevron by 0.3% in the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company’s stock worth $4,091,000 after acquiring an additional 71 shares in the last quarter. Clayton Financial Group LLC grew its position in shares of Chevron by 4.6% in the first quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company’s stock valued at $285,000 after purchasing an additional 75 shares during the period. Requisite Capital Management LLC increased its stake in shares of Chevron by 1.2% during the first quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company’s stock worth $1,064,000 after purchasing an additional 77 shares in the last quarter. Silverlake Wealth Management LLC raised its position in shares of Chevron by 0.7% during the 1st quarter. Silverlake Wealth Management LLC now owns 10,929 shares of the oil and gas company’s stock worth $1,828,000 after purchasing an additional 78 shares during the last quarter. Finally, Annandale Capital LLC lifted its stake in Chevron by 5.7% in the 4th quarter. Annandale Capital LLC now owns 1,471 shares of the oil and gas company’s stock valued at $213,000 after buying an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.6%

CVX stock opened at $154.84 on Friday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a market cap of $270.40 billion, a PE ratio of 17.70, a PEG ratio of 2.46 and a beta of 0.83. The firm’s 50 day moving average price is $145.12 and its 200-day moving average price is $148.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $49.05 billion. During the same quarter in the previous year, the business earned $2.93 earnings per share. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business 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. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.42%. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a report on Friday, July 18th. Mizuho decreased their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. BNP Paribas cut Chevron to a “cautious” rating in a research report on Tuesday, April 15th. HSBC downgraded Chevron from a “buy” rating to a “hold” rating and reduced their price objective for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company lifted their target price on shares of Chevron from $165.00 to $178.00 and gave the stock an “overweight” rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Chevron currently has a consensus rating of “Hold” and an average price target of $162.13.

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.