Chevron Corporation (NYSE:CVX) Shares Sold by Synergy Asset Management LLC

Synergy Asset Management LLC trimmed its position in Chevron Corporation (NYSE:CVX) by 0.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 53,631 shares of the oil and gas company’s stock after selling 264 shares during the quarter. Chevron comprises about 1.1% of Synergy Asset Management LLC’s portfolio, making the stock its 23rd biggest holding. Synergy Asset Management LLC’s holdings in Chevron were worth $8,972,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of Chevron by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock worth $5,247,142,000 after purchasing an additional 392,916 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chevron by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after purchasing an additional 746,806 shares during the last quarter. Norges Bank acquired a new position in shares of Chevron during the 4th quarter worth approximately $3,017,750,000. Northern Trust Corp boosted its holdings in shares of Chevron by 7.3% during the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock worth $2,965,135,000 after purchasing an additional 1,394,091 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of Chevron by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock worth $2,881,280,000 after purchasing an additional 410,460 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 0.8%

NYSE:CVX opened at $149.36 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The stock’s fifty day moving average is $139.37 and its two-hundred day moving average is $148.65. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a market capitalization of $260.84 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 2.63 and a beta of 0.83.

Chevron (NYSE:CVX) last released its quarterly 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 return on equity of 10.73% and a net margin of 7.76%. The company had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same period in the prior year, the firm earned $2.93 earnings per share. The firm’s revenue was down 2.3% compared to the same quarter last year. Research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent research reports. Barclays cut Chevron from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. BNP Paribas cut Chevron to a “cautious” rating in a report on Tuesday, April 15th. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective on the stock. in a report on Tuesday, May 6th. HSBC cut Chevron from a “buy” rating to a “hold” rating and decreased their price objective for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Finally, Mizuho decreased their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chevron currently has an average rating of “Hold” and an average 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.