Chevron Corporation (NYSE:CVX) Stock Position Trimmed by Keeler Thomas Management LLC

Keeler Thomas Management LLC trimmed its position in shares of Chevron Corporation (NYSE:CVX) by 35.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,205 shares of the oil and gas company’s stock after selling 11,277 shares during the period. Chevron accounts for approximately 1.7% of Keeler Thomas Management LLC’s holdings, making the stock its 18th biggest position. Keeler Thomas Management LLC’s holdings in Chevron were worth $3,380,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in Chevron by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after purchasing an additional 1,574,464 shares during the period. Northern Trust Corp lifted its stake in shares of 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. Ameriprise Financial Inc. lifted its stake in shares of Chevron by 1.3% in the 4th quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company’s stock worth $2,421,564,000 after acquiring an additional 211,023 shares during the period. Capital World Investors boosted its holdings in shares of Chevron by 11.4% in the fourth quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company’s stock valued at $2,039,288,000 after acquiring an additional 1,440,808 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Chevron by 2.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,755,894 shares of the oil and gas company’s stock valued at $1,992,406,000 after acquiring an additional 292,585 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research analyst reports. Barclays restated an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. DZ Bank downgraded Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective on the stock. in a research note on Tuesday, May 6th. TD Cowen upped their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday. Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a report on Friday, August 1st. Finally, Morgan Stanley assumed coverage on shares of Chevron in a research report on Monday. They issued an “overweight” rating and a $174.00 price target on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $164.11.

Chevron Price Performance

CVX stock opened at $152.82 on Thursday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a 50-day moving average of $147.78 and a two-hundred day moving average of $148.71. The firm has a market capitalization of $266.89 billion, a PE ratio of 19.67, a P/E/G ratio of 2.29 and a beta of 0.87. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17.

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

Chevron Dividend Announcement

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

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.