Fort Point Capital Partners LLC decreased its stake in Chevron Corporation (NYSE:CVX) by 25.1% during the first quarter, Holdings Channel reports. The fund owned 2,881 shares of the oil and gas company’s stock after selling 965 shares during the period. Fort Point Capital Partners LLC’s holdings in Chevron Corporation were worth $309,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Freestone Capital Holdings LLC increased its position in shares of Chevron Corporation by 4.9% in the fourth quarter. Freestone Capital Holdings LLC now owns 36,177 shares of the oil and gas company’s stock valued at $4,258,000 after buying an additional 1,706 shares during the last quarter. Loomis Sayles & Co. L P increased its position in shares of Chevron Corporation by 13.6% in the fourth quarter. Loomis Sayles & Co. L P now owns 738,369 shares of the oil and gas company’s stock valued at $86,906,000 after buying an additional 88,546 shares during the last quarter. Pacific Global Investment Management CO increased its position in shares of Chevron Corporation by 3.6% in the fourth quarter. Pacific Global Investment Management CO now owns 25,486 shares of the oil and gas company’s stock valued at $3,000,000 after buying an additional 877 shares during the last quarter. NWQ Investment Management Company LLC acquired a new position in shares of Chevron Corporation during the fourth quarter valued at $219,000. Finally, STA Wealth Management LLC increased its position in shares of Chevron Corporation by 42.5% in the fourth quarter. STA Wealth Management LLC now owns 3,843 shares of the oil and gas company’s stock valued at $453,000 after buying an additional 1,146 shares during the last quarter. 62.58% of the stock is owned by institutional investors and hedge funds.

Chevron Corporation (NYSE:CVX) traded down 0.80% during trading on Friday, hitting $109.23. The stock had a trading volume of 3,382,960 shares. The firm has a market cap of $206.99 billion, a price-to-earnings ratio of 35.42 and a beta of 1.23. Chevron Corporation has a one year low of $97.53 and a one year high of $119.00. The stock’s 50-day moving average is $106.01 and its 200 day moving average is $107.75.

Chevron Corporation (NYSE:CVX) last released its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.02. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The company had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $32.77 billion. During the same period in the previous year, the firm posted ($0.78) earnings per share. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. Equities analysts anticipate that Chevron Corporation will post $3.80 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Wednesday, August 16th. Chevron Corporation’s dividend payout ratio is currently 140.26%.

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Several research analysts have recently weighed in on CVX shares. Vetr raised Chevron Corporation from a “buy” rating to a “strong-buy” rating and set a $120.46 target price for the company in a research note on Friday, April 14th. Simmons reduced their target price on Chevron Corporation from $129.00 to $124.00 and set an “overweight” rating for the company in a research note on Wednesday, April 19th. Scotiabank set a $114.00 target price on Chevron Corporation and gave the stock a “buy” rating in a research note on Monday, May 1st. TheStreet raised Chevron Corporation from a “c” rating to a “b” rating in a research note on Tuesday, May 2nd. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $135.00 target price (down from $145.00) on shares of Chevron Corporation in a research note on Thursday, May 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $116.18.

In other news, insider James William Johnson sold 31,000 shares of Chevron Corporation stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total value of $3,431,080.00. Following the completion of the sale, the insider now owns 11,000 shares of the company’s stock, valued at $1,217,480. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Patricia E. Yarrington sold 39,000 shares of Chevron Corporation stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $111.00, for a total value of $4,329,000.00. Following the completion of the sale, the chief financial officer now directly owns 43,838 shares of the company’s stock, valued at approximately $4,866,018. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

About Chevron Corporation

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

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Institutional Ownership by Quarter for Chevron Corporation (NYSE:CVX)

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