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Chevron Co. (NYSE:CVX) Shares Sold by Natixis

Chevron Co. (NYSE:CVX) Shares Sold by Natixis

Natixis lowered its stake in shares of Chevron Co. (NYSE:CVX – Free Report) by 57.1% in the second quarter, Holdings Channel reports. The institutional investor owned 151,167 shares of the oil and gas company’s stock after selling 201,017 shares during the quarter. Natixis’ holdings in Chevron were worth $23,786,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Cornerstone Advisors LLC lifted its stake in Chevron by 310.7% in the second quarter. Cornerstone Advisors LLC now owns 72,700 shares of the oil and gas company’s stock valued at $11,439,000 after buying an additional 55,000 shares during the last quarter. Ally Financial Inc. bought a new stake in Chevron in the second quarter valued at $2,360,000. Biondo Investment Advisors LLC lifted its stake in Chevron by 0.4% in the second quarter. Biondo Investment Advisors LLC now owns 63,026 shares of the oil and gas company’s stock valued at $9,917,000 after buying an additional 225 shares during the last quarter. Fort L.P. lifted its stake in Chevron by 43.2% in the second quarter. Fort L.P. now owns 1,854 shares of the oil and gas company’s stock valued at $292,000 after buying an additional 559 shares during the last quarter. Finally, Hendley & Co. Inc. lifted its stake in Chevron by 5.3% in the second quarter. Hendley & Co. Inc. now owns 67,033 shares of the oil and gas company’s stock valued at $10,548,000 after buying an additional 3,360 shares during the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CVX. Sanford C. Bernstein upgraded shares of Chevron from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $184.00 to $182.00 in a research note on Thursday, November 2nd. Bank of America upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $190.00 to $200.00 in a research note on Monday, October 30th. Truist Financial cut their price objective on shares of Chevron from $175.00 to $169.00 and set a “hold” rating on the stock in a research note on Tuesday, October 24th. UBS Group lifted their price objective on shares of Chevron from $209.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. Finally, HSBC lifted their target price on Chevron from $180.00 to $184.00 in a report on Wednesday, August 9th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $187.89.

View Our Latest Analysis on CVX

Chevron Stock Up 0.4 %

Shares of Chevron stock opened at $146.06 on Wednesday. Chevron Co. has a 1 year low of $140.72 and a 1 year high of $187.81. The business has a 50-day moving average of $155.62 and a two-hundred day moving average of $157.56. The company has a market capitalization of $275.72 billion, a P/E ratio of 10.80, a price-to-earnings-growth ratio of 0.75 and a beta of 1.16. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.97.

Chevron (NYSE:CVX – Get Free Report) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $3.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.70 by ($0.65). The firm had revenue of $54.08 billion for the quarter, compared to the consensus estimate of $51.41 billion. Chevron had a return on equity of 16.15% and a net margin of 12.11%. The firm’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.56 earnings per share. As a group, equities analysts predict that Chevron Co. will post 13.46 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $6.04 annualized dividend and a yield of 4.14%. Chevron’s dividend payout ratio (DPR) is presently 44.84%.

Chevron Company Profile

(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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.

See Also

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX – Free Report).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)



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