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Investment firms cut holdings in Chevron despite its strong earnings and dividend yield.
Investment firms like Brooks Moore & Associates and Corebridge Financial have reduced their holdings in Chevron Corporation, which recently reported $1.77 earnings per share, surpassing analysts' expectations.
Despite a 12.4% drop in quarterly revenue compared to the previous year, analysts predict Chevron will post 10.79 EPS for the year.
The company's stock, valued at $272.84 billion, currently has a price-to-earnings ratio of 20.32 and an annual dividend yield of 4.3%.
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Las empresas de inversión recortaron las participaciones en Chevron a pesar de sus fuertes ganancias y rendimiento de dividendos.