Sigma Planning Corp Sells 838 Shares of Chevron Corporation (NYSE:CVX)

by · The Markets Daily

Sigma Planning Corp cut its stake in shares of Chevron Corporation (NYSE:CVX – Free Report) by 1.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,972 shares of the oil and gas company’s stock after selling 838 shares during the quarter. Sigma Planning Corp’s holdings in Chevron were worth $9,364,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVX. IMG Wealth Management Inc. bought a new stake in Chevron in the 4th quarter valued at about $25,000. Life Planning Partners Inc bought a new position in shares of Chevron in the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron in the fourth quarter valued at approximately $29,000. 10Elms LLP purchased a new position in Chevron in the fourth quarter valued at approximately $29,000. Finally, Navigoe LLC purchased a new position in Chevron in the fourth quarter valued at approximately $33,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CVX shares. Hsbc Global Res downgraded Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a research note on Tuesday, May 6th. Mizuho reduced their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. TD Cowen dropped their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. Finally, Scotiabank increased their target price on shares of Chevron from $143.00 to $160.00 and gave the stock a “sector perform” rating in a report on Friday. 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $161.65.

View Our Latest Stock Analysis on Chevron

Chevron Trading Up 0.8%

Chevron stock opened at $155.38 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock’s 50 day simple moving average is $142.62 and its two-hundred day simple moving average is $148.47. The firm has a market cap of $271.35 billion, a PE ratio of 17.76, a P/E/G ratio of 2.63 and a beta of 0.83.

Chevron (NYSE:CVX – Get Free Report) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business’s revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.93 EPS. Analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date was Monday, May 19th. Chevron’s payout ratio is 78.17%.

About Chevron

(Free Report)

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.

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