Autumn Glory Partners LLC Sells 1,000 Shares of Chevron Corporation (NYSE:CVX)

Autumn Glory Partners LLC lowered its stake in shares of Chevron Corporation (NYSE:CVX) by 8.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 11,088 shares of the oil and gas company’s stock after selling 1,000 shares during the period. Autumn Glory Partners LLC’s holdings in Chevron were worth $1,855,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in Chevron during the fourth quarter valued at $3,017,750,000. Raymond James Financial Inc. bought a new position in shares of Chevron in the 4th quarter worth about $1,036,302,000. GAMMA Investing LLC boosted its stake in Chevron by 21,191.5% during the first 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 in the last quarter. Bank of New York Mellon Corp grew its holdings in Chevron by 17.3% in the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after purchasing an additional 2,432,756 shares during the period. Finally, Amundi increased its stake in shares of Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock valued at $1,323,549,000 after purchasing an additional 1,910,262 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on CVX shares. Piper Sandler cut their price target on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Redburn Atlantic reissued a “sell” rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Wells Fargo & Company reduced their price target on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a report on Monday, May 5th. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and dropped their price target for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective for the company. in a research note on Tuesday, May 6th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $160.24.

Chevron Stock Down 0.4%

Shares of Chevron stock opened at $148.18 on Friday. Chevron Corporation has a twelve month low of $132.04 and a twelve 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. The company’s 50 day moving average is $139.09 and its 200 day moving average is $148.81. The company has a market cap of $258.78 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 2.60 and a beta of 0.83.

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

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.62%. Chevron’s payout ratio is 78.17%.

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.