Coign Capital Advisors LLC Sells 169 Shares of Chevron Corporation (NYSE:CVX)

Coign Capital Advisors LLC decreased its position in shares of Chevron Corporation (NYSE:CVX) by 4.2% in the 1st quarter, HoldingsChannel reports. The fund owned 3,824 shares of the oil and gas company’s stock after selling 169 shares during the period. Coign Capital Advisors LLC’s holdings in Chevron were worth $640,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eagle Capital Management LLC grew its holdings in shares of Chevron by 0.7% during 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 buying an additional 242 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in Chevron by 7.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock valued at $5,212,000 after acquiring an additional 2,641 shares in the last quarter. FMR LLC boosted its stake in Chevron by 7.9% during the 4th quarter. FMR LLC now owns 3,866,447 shares of the oil and gas company’s stock valued at $560,016,000 after purchasing an additional 281,784 shares during the last quarter. Shelton Capital Management increased its holdings in Chevron by 12.3% during the 4th quarter. Shelton Capital Management now owns 81,429 shares of the oil and gas company’s stock worth $11,794,000 after purchasing an additional 8,921 shares in the last quarter. Finally, FIL Ltd raised its stake in shares of Chevron by 538.6% in the fourth quarter. FIL Ltd now owns 378,736 shares of the oil and gas company’s stock worth $54,856,000 after purchasing an additional 319,425 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $152.80 on Wednesday. The company’s 50 day moving average is $147.44 and its 200-day moving average is $148.68. The firm has a market cap of $266.85 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 2.30 and a beta of 0.87. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. 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 (NYSE:CVX) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.80% and a net margin of 7.02%. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same period last year, the company earned $2.55 earnings per share. Sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company 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. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.5%. Chevron’s dividend payout ratio is currently 88.03%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Morgan Stanley assumed coverage on Chevron in a report on Monday. They set an “overweight” rating and a $174.00 price target for the company. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and cut their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Barclays reiterated an “equal weight” rating on shares of Chevron in a report on Tuesday, July 15th. BNP Paribas cut shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Finally, Hsbc Global Res downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $164.11.

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.