Chevron Co. (NYSE:CVX) Shares Sold by Strategic Wealth Partners Ltd.

Strategic Wealth Partners Ltd. trimmed its position in shares of Chevron Co. (NYSE:CVX) by 5.6% during the 4th quarter, HoldingsChannel reports. The firm owned 8,118 shares of the oil and gas company’s stock after selling 485 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Chevron were worth $1,265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in Chevron by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock worth $5,247,142,000 after purchasing an additional 392,916 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Chevron by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after purchasing an additional 746,806 shares in the last quarter. Norges Bank purchased a new position in Chevron during the 4th quarter worth approximately $3,017,750,000. Northern Trust Corp grew its position in Chevron by 7.3% during 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 purchasing an additional 1,394,091 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in Chevron by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock worth $2,881,280,000 after purchasing an additional 410,460 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Down 0.2%

Chevron stock opened at $142.04 on Monday. The firm has a market cap of $248.06 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm has a fifty day moving average price of $146.65 and a two-hundred day moving average price of $151.81.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.93 EPS. As a group, analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.82%. The ex-dividend date is Monday, May 19th. Chevron’s payout ratio is presently 78.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Barclays lowered shares of Chevron from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their target price on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $160.00 to $143.00 in a research note on Friday, April 11th. HSBC lowered shares of 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 note on Tuesday, May 13th. Finally, UBS Group decreased their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $160.24.

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.