Chevron Corporation (NYSE:CVX) Shares Sold by West Michigan Advisors LLC

West Michigan Advisors LLC lessened its holdings in shares of Chevron Corporation (NYSE:CVX) by 13.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,907 shares of the oil and gas company’s stock after selling 1,046 shares during the quarter. West Michigan Advisors LLC’s holdings in Chevron were worth $1,155,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVX. GAMMA Investing LLC boosted its holdings in Chevron by 21,191.5% in the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock worth $904,746,000 after acquiring an additional 5,382,847 shares during the period. Capital World Investors boosted its holdings in Chevron by 11.4% in the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company’s stock worth $2,039,288,000 after acquiring an additional 1,440,808 shares during the period. Northern Trust Corp boosted its holdings in Chevron by 7.3% in the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock worth $2,965,135,000 after acquiring an additional 1,394,091 shares during the period. Invesco Ltd. boosted its holdings in Chevron by 6.9% in the 4th quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company’s stock worth $2,176,579,000 after acquiring an additional 964,426 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in Chevron by 27.3% in the 4th quarter. Janus Henderson Group PLC now owns 3,897,183 shares of the oil and gas company’s stock worth $564,503,000 after acquiring an additional 835,990 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $150.81 on Tuesday. The business’s fifty day moving average price is $147.14 and its 200 day moving average price is $148.65. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The stock has a market capitalization of $263.37 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 2.31 and a beta of 0.87. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a return on equity of 9.80% and a net margin of 7.02%. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period last year, the business posted $2.55 earnings per share. Equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Barclays restated an “equal weight” rating on shares of Chevron in a report on Tuesday, July 15th. Redburn Atlantic reiterated a “sell” rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Scotiabank reiterated a “sector perform” rating and set a $160.00 target price (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. HSBC cut Chevron from a “buy” rating to a “hold” rating and reduced their target price for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, BNP Paribas cut Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $164.11.

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.