Evanson Asset Management LLC Sells 440 Shares of Chevron Corporation (NYSE:CVX)

Evanson Asset Management LLC trimmed its holdings in Chevron Corporation (NYSE:CVX) by 2.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,687 shares of the oil and gas company’s stock after selling 440 shares during the quarter. Evanson Asset Management LLC’s holdings in Chevron were worth $2,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Davies Financial Advisors Inc. bought a new position in shares of Chevron in the 1st quarter worth about $296,000. Congress Park Capital LLC increased its stake in shares of Chevron by 15.3% in the 1st quarter. Congress Park Capital LLC now owns 3,626 shares of the oil and gas company’s stock worth $607,000 after acquiring an additional 481 shares in the last quarter. Advisor Resource Council bought a new position in shares of Chevron in the 1st quarter worth about $2,844,000. Segment Wealth Management LLC increased its stake in shares of Chevron by 2.2% in the 1st quarter. Segment Wealth Management LLC now owns 29,245 shares of the oil and gas company’s stock worth $4,892,000 after acquiring an additional 634 shares in the last quarter. Finally, DMKC Advisory Services LLC increased its stake in shares of Chevron by 1.1% in the 1st quarter. DMKC Advisory Services LLC now owns 12,512 shares of the oil and gas company’s stock worth $2,093,000 after acquiring an additional 132 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Shares of CVX stock opened at $149.36 on Friday. The company has a 50 day moving average price of $139.37 and a 200-day moving average price of $148.72. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The firm has a market capitalization of $260.84 billion, a PE ratio of 17.07, a P/E/G ratio of 2.60 and a beta of 0.83. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17.

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

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.58%. Chevron’s dividend payout ratio (DPR) is 78.17%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CVX. BNP Paribas lowered shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Redburn Atlantic restated a “sell” rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. TD Cowen reduced their price objective on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, May 5th. DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective for the company. in a research note on Tuesday, May 6th. Finally, Piper Sandler reduced their price objective on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. Three 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, the stock presently has a consensus rating of “Hold” and an average price target 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.