Chevron Co. (NYSE:CVX) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its position in shares of Chevron Co. (NYSE:CVX) by 5.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,325 shares of the oil and gas company’s stock after selling 4,341 shares during the quarter. Intech Investment Management LLC’s holdings in Chevron were worth $11,157,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Cowa LLC raised its position in shares of Chevron by 8.5% in the second quarter. Cowa LLC now owns 3,811 shares of the oil and gas company’s stock valued at $596,000 after buying an additional 300 shares during the last quarter. ProVise Management Group LLC boosted its holdings in shares of Chevron by 4.0% during the 2nd quarter. ProVise Management Group LLC now owns 49,683 shares of the oil and gas company’s stock worth $7,771,000 after purchasing an additional 1,929 shares during the last quarter. Delaney Dennis R grew its position in shares of Chevron by 1.4% in the second quarter. Delaney Dennis R now owns 22,648 shares of the oil and gas company’s stock valued at $3,543,000 after purchasing an additional 302 shares in the last quarter. XTX Topco Ltd increased its holdings in shares of Chevron by 1,690.5% in the second quarter. XTX Topco Ltd now owns 35,308 shares of the oil and gas company’s stock valued at $5,523,000 after purchasing an additional 33,336 shares during the last quarter. Finally, Richardson Financial Services Inc. lifted its position in Chevron by 15.2% during the second quarter. Richardson Financial Services Inc. now owns 2,381 shares of the oil and gas company’s stock worth $372,000 after buying an additional 314 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CVX. Scotiabank cut their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Wolfe Research started coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Truist Financial dropped their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Royal Bank of Canada reduced their price target 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. Finally, Mizuho lowered their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $182.41.

Chevron Stock Up 0.5 %

Chevron stock opened at $145.65 on Friday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $171.70. The firm has a market capitalization of $268.43 billion, a P/E ratio of 13.40, a P/E/G 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 fifty day simple moving average is $148.06 and its 200-day simple moving average is $154.45.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the prior year, the firm posted $3.08 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts expect that Chevron Co. will post 11.48 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

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.