Crescent Sterling Ltd. Sells 706 Shares of Chevron Co. (NYSE:CVX)

Crescent Sterling Ltd. cut its holdings in Chevron Co. (NYSE:CVX) by 2.9% during the 1st quarter, Holdings Channel reports. The firm owned 23,858 shares of the oil and gas company’s stock after selling 706 shares during the period. Chevron comprises approximately 4.1% of Crescent Sterling Ltd.’s investment portfolio, making the stock its 5th biggest holding. Crescent Sterling Ltd.’s holdings in Chevron were worth $3,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Simplicity Wealth LLC boosted its stake in shares of Chevron by 180.0% during the first quarter. Simplicity Wealth LLC now owns 17,162 shares of the oil and gas company’s stock valued at $2,871,000 after acquiring an additional 11,032 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Chevron by 27.3% during the first quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock worth $5,408,000 after purchasing an additional 6,928 shares during the last quarter. First National Bank Sioux Falls boosted its holdings in shares of Chevron by 11.4% during the first quarter. First National Bank Sioux Falls now owns 4,836 shares of the oil and gas company’s stock worth $809,000 after purchasing an additional 495 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in shares of Chevron by 6.2% during the first quarter. Wealthcare Advisory Partners LLC now owns 28,303 shares of the oil and gas company’s stock worth $4,735,000 after purchasing an additional 1,644 shares during the last quarter. Finally, Requisite Capital Management LLC boosted its holdings in shares of Chevron by 1.2% during the first quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company’s stock worth $1,064,000 after purchasing an additional 77 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Chevron stock opened at $140.76 on Tuesday. The stock’s 50 day moving average price is $138.46 and its 200 day moving average price is $149.50. The firm has a market capitalization of $245.82 billion, a PE ratio of 14.48, a price-to-earnings-growth 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. Chevron Co. has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping 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 business had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same period in the previous year, the company posted $2.93 earnings per share. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, sell-side analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.86%. Chevron’s dividend payout ratio is currently 78.17%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CVX shares. DZ Bank cut shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a research report on Tuesday, May 6th. UBS Group reduced their target price on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Redburn Atlantic reiterated a “sell” rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Wells Fargo & Company reduced their price objective on Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Finally, Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $160.24.

Chevron 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.