Pioneer Investment Management Inc. decreased its position in Chevron Corporation (NYSE:CVX) by 89.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 168,640 shares of the oil and gas company’s stock after selling 1,503,368 shares during the period. Pioneer Investment Management Inc.’s holdings in Chevron Corporation were worth $18,107,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Haverford Financial Services Inc. boosted its position in shares of Chevron Corporation by 0.7% in the first quarter. Haverford Financial Services Inc. now owns 2,303 shares of the oil and gas company’s stock worth $247,000 after buying an additional 16 shares in the last quarter. Orgel Wealth Management LLC boosted its position in shares of Chevron Corporation by 0.8% in the first quarter. Orgel Wealth Management LLC now owns 2,346 shares of the oil and gas company’s stock worth $252,000 after buying an additional 18 shares in the last quarter. Westbourne Investment Advisors Inc. boosted its position in shares of Chevron Corporation by 0.4% in the first quarter. Westbourne Investment Advisors Inc. now owns 7,435 shares of the oil and gas company’s stock worth $798,000 after buying an additional 33 shares in the last quarter. Court Place Advisors LLC boosted its position in shares of Chevron Corporation by 0.6% in the first quarter. Court Place Advisors LLC now owns 5,968 shares of the oil and gas company’s stock worth $641,000 after buying an additional 36 shares in the last quarter. Finally, Evanson Asset Management LLC boosted its position in shares of Chevron Corporation by 0.5% in the first quarter. Evanson Asset Management LLC now owns 9,521 shares of the oil and gas company’s stock worth $1,022,000 after buying an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 62.84% of the company’s stock.

Shares of Chevron Corporation (CVX) traded up 1.06% during trading on Friday, reaching $108.76. 3,660,250 shares of the company’s stock were exchanged. The stock has a market cap of $206.10 billion, a PE ratio of 35.27 and a beta of 1.23. Chevron Corporation has a 52-week low of $97.53 and a 52-week high of $119.00. The stock’s 50 day moving average price is $107.30 and its 200-day moving average price is $107.12.

Chevron Corporation (NYSE:CVX) last announced its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.02. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The firm had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $32.77 billion. During the same period in the prior year, the company posted ($0.78) EPS. The company’s revenue was up 17.8% on a year-over-year basis. On average, equities research analysts forecast that Chevron Corporation will post $3.83 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 18th will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.97%. The ex-dividend date is Wednesday, August 16th. Chevron Corporation’s dividend payout ratio (DPR) is currently 140.26%.

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A number of brokerages have commented on CVX. Jefferies Group LLC set a $135.00 price target on shares of Chevron Corporation and gave the stock a “buy” rating in a research note on Saturday, June 24th. Barclays PLC restated an “overweight” rating and set a $125.00 price target (up previously from $116.00) on shares of Chevron Corporation in a research note on Wednesday, July 12th. BidaskClub cut shares of Chevron Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Macquarie cut shares of Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 price target for the company. in a research note on Wednesday, June 21st. Finally, Zacks Investment Research cut shares of Chevron Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Chevron Corporation has an average rating of “Buy” and a consensus price target of $116.97.

In other Chevron Corporation news, CFO Patricia E. Yarrington sold 39,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $111.00, for a total value of $4,329,000.00. Following the completion of the transaction, the chief financial officer now directly owns 43,838 shares in the company, valued at approximately $4,866,018. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider James William Johnson sold 31,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $110.68, for a total transaction of $3,431,080.00. Following the completion of the transaction, the insider now owns 11,000 shares of the company’s stock, valued at $1,217,480. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,312 shares of company stock valued at $8,008,343. Corporate insiders own 0.38% of the company’s stock.

About Chevron Corporation

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

Institutional Ownership by Quarter for Chevron Corporation (NYSE:CVX)

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