Tradewinds LLC. Cuts Stock Holdings in Chevron Corporation (NYSE:CVX)

Tradewinds LLC. trimmed its position in shares of Chevron Corporation (NYSE:CVX) by 3.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,739 shares of the oil and gas company’s stock after selling 383 shares during the quarter. Tradewinds LLC.’s holdings in Chevron were worth $1,797,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Cloud Capital Management LLC purchased a new stake in Chevron in the 1st quarter worth $39,000. Atlantic Edge Private Wealth Management LLC increased its holdings in Chevron by 1.4% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 8,827 shares of the oil and gas company’s stock worth $1,477,000 after acquiring an additional 120 shares in the last quarter. McGlone Suttner Wealth Management Inc. increased its holdings in Chevron by 27.2% in the 1st quarter. McGlone Suttner Wealth Management Inc. now owns 5,515 shares of the oil and gas company’s stock worth $923,000 after acquiring an additional 1,181 shares in the last quarter. Sierra Ocean LLC increased its holdings in Chevron by 15.4% in the 1st quarter. Sierra Ocean LLC now owns 882 shares of the oil and gas company’s stock worth $148,000 after acquiring an additional 118 shares in the last quarter. Finally, Bolthouse Investments LLC increased its holdings in Chevron by 63.0% in the 1st quarter. Bolthouse Investments LLC now owns 7,346 shares of the oil and gas company’s stock worth $1,229,000 after acquiring an additional 2,839 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 0.2%

Shares of CVX stock opened at $148.23 on Friday. The company’s 50-day moving average price is $141.16 and its 200-day moving average price is $148.10. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The stock has a market cap of $258.86 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 2.51 and a beta of 0.83. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

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

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.61%. Chevron’s payout ratio is 78.17%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wells Fargo & Company reissued an “overweight” rating and issued a $165.00 price target (up previously from $164.00) on shares of Chevron in a report on Thursday, June 26th. DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a report on Tuesday, May 6th. BNP Paribas lowered shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Hsbc Global Res lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Finally, HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and cut their price target for the stock from $176.00 to $158.00 in a report 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $160.41.

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.