Oarsman Capital Inc. cut its position in shares of Chevron Co. (NYSE:CVX) by 45.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,067 shares of the oil and gas company’s stock after selling 6,731 shares during the quarter. Oarsman Capital Inc.’s holdings in Chevron were worth $585,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the stock. Wealth Quarterback LLC acquired a new position in shares of Chevron in the fourth quarter worth $16,676,410,000. BlackRock Inc. raised its holdings in shares of Chevron by 4.9% in the first quarter. BlackRock Inc. now owns 133,388,637 shares of the oil and gas company’s stock worth $9,665,343,000 after acquiring an additional 6,208,177 shares during the last quarter. State Street Corp raised its holdings in shares of Chevron by 2.6% in the first quarter. State Street Corp now owns 117,055,351 shares of the oil and gas company’s stock worth $8,481,831,000 after acquiring an additional 2,914,316 shares during the last quarter. Capital International Investors raised its holdings in shares of Chevron by 4.6% in the fourth quarter. Capital International Investors now owns 32,580,587 shares of the oil and gas company’s stock worth $3,926,286,000 after acquiring an additional 1,429,639 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Chevron by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 27,672,923 shares of the oil and gas company’s stock worth $3,328,591,000 after acquiring an additional 779,059 shares during the last quarter. 64.86% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE CVX traded up $0.55 on Tuesday, hitting $93.34. The company had a trading volume of 5,094,061 shares, compared to its average volume of 9,683,845. Chevron Co. has a 12-month low of $51.60 and a 12-month high of $127.00. The business has a 50 day moving average of $89.34 and a two-hundred day moving average of $101.02. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $176.69 billion, a P/E ratio of 45.82 and a beta of 1.30.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $1.29. Chevron had a return on equity of 8.28% and a net margin of 2.71%. The company had revenue of $31.50 billion during the quarter, compared to the consensus estimate of $30.46 billion. During the same quarter in the prior year, the business earned $1.47 earnings per share. The company’s revenue was down 10.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Chevron Co. will post -0.03 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be given a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 5.53%. The ex-dividend date is Monday, May 18th. Chevron’s payout ratio is 82.30%.

A number of equities analysts have recently weighed in on CVX shares. Cowen cut their price target on Chevron from $134.00 to $127.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Wells Fargo & Co upped their target price on Chevron from $107.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Citigroup dropped their target price on Chevron from $120.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, March 4th. JPMorgan Chase & Co. upped their target price on Chevron from $97.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Finally, Mizuho dropped their target price on Chevron from $140.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. Seven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Chevron has an average rating of “Buy” and an average target price of $112.27.

About Chevron

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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