Diligent Investors LLC Sells 360 Shares of Chevron Co. (NYSE:CVX)

Diligent Investors LLC cut its holdings in shares of Chevron Co. (NYSE:CVX) by 1.4% during the first quarter, Holdings Channel.com reports. The fund owned 24,541 shares of the oil and gas company’s stock after selling 360 shares during the period. Chevron accounts for approximately 1.0% of Diligent Investors LLC’s portfolio, making the stock its 14th largest position. Diligent Investors LLC’s holdings in Chevron were worth $4,105,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CVX. Capital & Planning LLC boosted its position in shares of Chevron by 15.2% during the fourth quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company’s stock valued at $243,000 after buying an additional 222 shares during the period. Eagle Capital Management LLC boosted its position in shares of Chevron by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock valued at $5,011,000 after buying an additional 242 shares during the period. Union Bancaire Privee UBP SA purchased a new position in shares of Chevron during the fourth quarter valued at approximately $8,947,000. Optas LLC purchased a new position in shares of Chevron during the fourth quarter valued at approximately $321,000. Finally, Columbus Macro LLC boosted its position in shares of Chevron by 49.3% during the fourth quarter. Columbus Macro LLC now owns 2,194 shares of the oil and gas company’s stock valued at $318,000 after buying an additional 724 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

Shares of CVX stock opened at $137.46 on Thursday. The business’s fifty day simple moving average is $140.16 and its 200-day simple moving average is $150.11. The company has a market cap of $240.06 billion, a PE ratio of 14.14, a PEG ratio of 1.46 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 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 quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.93 earnings per share. Analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on CVX. TD Cowen dropped their target price on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, May 5th. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and decreased their price target for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Barclays downgraded shares of Chevron from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their price target 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. Finally, Mizuho decreased their price target on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target 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.