Chevron Co. (NYSE:CVX) Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 0.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 134,631 shares of the oil and gas company’s stock after selling 1,053 shares during the period. Chevron comprises 1.5% of Lmcg Investments LLC’s holdings, making the stock its 12th largest position. Lmcg Investments LLC’s holdings in Chevron were worth $22,522,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVX. Norges Bank acquired a new stake in Chevron during the fourth quarter worth about $3,017,750,000. Raymond James Financial Inc. acquired a new stake in Chevron during the fourth quarter worth about $1,036,302,000. GAMMA Investing LLC grew its holdings 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 during the period. 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 valued at $2,389,380,000 after purchasing an additional 2,432,756 shares during the period. Finally, Amundi grew its holdings in Chevron by 27.7% in 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 during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on CVX shares. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $160.00 to $143.00 in a report on Friday, April 11th. Barclays lowered Chevron from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Redburn Atlantic reissued a “sell” rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. DZ Bank lowered Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective on the stock. in a report on Tuesday, May 6th. Finally, 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. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $160.24.

Chevron Trading Down 1.5%

Shares of NYSE CVX opened at $137.46 on Thursday. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $140.16 and a 200-day simple moving average of $150.11. The stock has a market capitalization of $240.06 billion, a PE ratio of 14.14, a PEG ratio of 1.46 and a beta of 0.83.

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

Chevron Dividend Announcement

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 dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.98%. Chevron’s payout ratio is 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.