Chevron Co. (NYSE:CVX) Shares Sold by Paradiem LLC

Paradiem LLC lowered its position in Chevron Co. (NYSE:CVX) by 7.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,439 shares of the oil and gas company’s stock after selling 123 shares during the quarter. Paradiem LLC’s holdings in Chevron were worth $225,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Chevron during the fourth quarter valued at approximately $2,902,007,000. Berkshire Hathaway Inc increased its stake in shares of Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after acquiring an additional 15,845,037 shares during the period. Capital World Investors increased its stake in shares of Chevron by 43.5% during the fourth quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock valued at $2,314,070,000 after acquiring an additional 4,700,289 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Chevron by 73,888.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock valued at $686,554,000 after acquiring an additional 4,596,584 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Chevron by 8.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock valued at $3,886,821,000 after acquiring an additional 1,999,332 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE:CVX traded down $1.00 during midday trading on Tuesday, reaching $145.83. The stock had a trading volume of 3,841,614 shares, compared to its average volume of 7,845,446. The stock has a market capitalization of $268.76 billion, a P/E ratio of 13.32, a PEG ratio of 2.42 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The firm’s fifty day simple moving average is $153.62 and its 200-day simple moving average is $156.01.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business 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% compared to the same quarter last year. During the same period in the prior year, the business posted $3.08 earnings per share. On average, equities research analysts forecast that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CVX shares. Barclays decreased their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Wolfe Research assumed coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. TD Cowen raised their price objective on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Wells Fargo & Company raised their price objective on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Finally, Royal Bank of Canada decreased their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $183.82.

About Chevron

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.