Worth Financial Advisory Group LLC Sells 159 Shares of Chevron Corporation (NYSE:CVX)

Worth Financial Advisory Group LLC lessened its stake in shares of Chevron Corporation (NYSE:CVX) by 5.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,565 shares of the oil and gas company’s stock after selling 159 shares during the period. Worth Financial Advisory Group LLC’s holdings in Chevron were worth $429,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of CVX. Sage Capital Advisors llc raised its stake in Chevron by 2.2% in the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock valued at $7,097,000 after buying an additional 919 shares during the period. Pines Wealth Management LLC raised its stake in Chevron by 3.3% in the first quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company’s stock valued at $1,306,000 after buying an additional 253 shares during the period. Viking Fund Management LLC raised its stake in Chevron by 9.3% in the first quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company’s stock valued at $19,573,000 after buying an additional 10,000 shares during the period. Allianz SE bought a new stake in Chevron in the fourth quarter valued at approximately $9,369,000. Finally, Nicholas Company Inc. raised its stake in Chevron by 4.3% in the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock valued at $11,591,000 after buying an additional 3,280 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CVX. DZ Bank lowered 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 decreased their target price on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. BNP Paribas downgraded Chevron to a “cautious” rating in a research report on Tuesday, April 15th. UBS Group decreased their target price on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Finally, HSBC downgraded Chevron from a “buy” rating to a “hold” rating and decreased their target price for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus price target of $160.24.

Chevron Trading Up 0.8%

Shares of NYSE:CVX opened at $149.36 on Friday. The company has a market capitalization of $260.84 billion, a P/E ratio of 17.07, a P/E/G ratio of 2.60 and a beta of 0.83. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The business’s 50 day simple moving average is $139.37 and its 200 day simple moving average is $148.72.

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

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio is presently 78.17%.

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.