Chevron Co. (NYSE:CVX) Shares Sold by Hudson Valley Investment Advisors Inc. ADV

Hudson Valley Investment Advisors Inc. ADV reduced its position in shares of Chevron Co. (NYSE:CVX) by 1.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,772 shares of the oil and gas company’s stock after selling 259 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in Chevron were worth $3,810,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Sage Capital Advisors llc increased its stake in Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock worth $7,097,000 after purchasing an additional 919 shares in the last quarter. Viking Fund Management LLC increased its stake in Chevron by 9.3% in the 1st quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company’s stock worth $19,573,000 after purchasing an additional 10,000 shares in the last quarter. Allianz SE purchased a new position in Chevron in the 4th quarter worth about $9,369,000. Nicholas Company Inc. increased its stake in Chevron by 4.3% in the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock worth $11,591,000 after purchasing an additional 3,280 shares in the last quarter. Finally, Applied Finance Capital Management LLC increased its stake in Chevron by 1.6% in the 4th quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company’s stock worth $26,044,000 after purchasing an additional 2,755 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVX has been the topic of a number of analyst reports. UBS Group dropped their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. HSBC cut 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 note on Tuesday, May 13th. TD Cowen decreased their price objective 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 Global Res lowered Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company decreased their price objective on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $160.24.

Chevron Stock Up 2.4%

Shares of Chevron stock opened at $140.21 on Friday. The stock has a 50-day simple moving average of $138.98 and a 200-day simple moving average of $149.81. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market cap of $244.86 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share 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 analyst estimates of $49.05 billion. During the same period in the previous year, the company earned $2.93 EPS. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, equities research 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. Stockholders of record on Monday, May 19th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.88%. The ex-dividend date is Monday, May 19th. Chevron’s dividend payout ratio is currently 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.