Chevron Co. (NYSE:CVX) Shares Sold by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC lowered its stake in shares of Chevron Co. (NYSE:CVX) by 16.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,407 shares of the oil and gas company’s stock after selling 1,847 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Chevron were worth $1,574,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Eclectic Associates Inc. ADV boosted its holdings in Chevron by 11.8% in the first quarter. Eclectic Associates Inc. ADV now owns 3,741 shares of the oil and gas company’s stock worth $626,000 after purchasing an additional 396 shares during the period. Wealth Management Partners LLC raised its stake in shares of Chevron by 7.9% during the first quarter. Wealth Management Partners LLC now owns 14,463 shares of the oil and gas company’s stock valued at $2,420,000 after purchasing an additional 1,061 shares in the last quarter. Fermata Advisors LLC raised its stake in shares of Chevron by 23.0% during the first quarter. Fermata Advisors LLC now owns 9,773 shares of the oil and gas company’s stock valued at $1,635,000 after purchasing an additional 1,828 shares in the last quarter. Naples Global Advisors LLC raised its position in Chevron by 2.1% in the first quarter. Naples Global Advisors LLC now owns 28,781 shares of the oil and gas company’s stock worth $4,815,000 after acquiring an additional 586 shares in the last quarter. Finally, HF Advisory Group LLC bought a new stake in Chevron in the first quarter worth about $204,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 1.5%

Shares of CVX stock opened at $137.46 on Thursday. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The stock has a market cap of $240.06 billion, a price-to-earnings ratio of 14.14, 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 quick ratio of 0.80 and a current ratio of 1.07. The firm has a fifty day moving average of $140.16 and a 200-day moving average of $150.11.

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

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s payout ratio is 78.17%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVX. 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 report on Tuesday, May 13th. Mizuho lowered their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Redburn Atlantic reaffirmed a “sell” rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Barclays downgraded Chevron from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Finally, Hsbc Global Res lowered Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Three 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $160.24.

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.