Canada Pension Plan Investment Board Sells 422,741 Shares of Chevron Co. (NYSE:CVX)

Canada Pension Plan Investment Board trimmed its position in shares of Chevron Co. (NYSE:CVX) by 76.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,013 shares of the oil and gas company’s stock after selling 422,741 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Chevron were worth $20,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. American Capital Advisory LLC grew its holdings in Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 125 shares during the period. Frank Rimerman Advisors LLC bought a new stake in Chevron during the fourth quarter valued at about $30,000. Anfield Capital Management LLC boosted its stake in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the period. Cooksen Wealth LLC bought a new stake in Chevron during the 4th quarter valued at approximately $40,000. Finally, Clear Investment Research LLC boosted its stake in Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Trading Up 0.5 %

NYSE:CVX opened at $145.68 on Monday. The firm has a market cap of $268.48 billion, a P/E ratio of 13.40, a PEG ratio of 2.48 and a beta of 1.09. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock’s 50 day simple moving average is $148.06 and its 200-day simple moving average is $154.53. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $171.70.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.08 EPS. Equities analysts anticipate that Chevron Co. will post 11.48 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.48%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CVX shares. Royal Bank of Canada reduced their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Scotiabank reduced their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Wolfe Research started coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, Barclays lowered their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $182.41.

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.