Chevron Co. (NYSE:CVX) Shares Sold by M&G Plc

M&G Plc reduced its position in shares of Chevron Co. (NYSE:CVX) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 187,022 shares of the oil and gas company’s stock after selling 3,012 shares during the period. M&G Plc’s holdings in Chevron were worth $27,492,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. bought a new position in Chevron during the 1st quarter worth $566,000. Central Pacific Bank Trust Division bought a new position in Chevron during the 1st quarter worth $2,303,000. Comprehensive Financial Consultants Institutional Inc. grew its stake in Chevron by 8.8% during the 1st quarter. Comprehensive Financial Consultants Institutional Inc. now owns 9,949 shares of the oil and gas company’s stock worth $1,569,000 after buying an additional 801 shares during the last quarter. Proficio Capital Partners LLC grew its stake in Chevron by 4.4% during the 1st quarter. Proficio Capital Partners LLC now owns 7,626 shares of the oil and gas company’s stock worth $1,203,000 after buying an additional 324 shares during the last quarter. Finally, United Community Bank grew its stake in shares of Chevron by 0.9% in the first quarter. United Community Bank now owns 8,651 shares of the oil and gas company’s stock worth $1,365,000 after purchasing an additional 74 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 2.8 %

Shares of Chevron stock opened at $157.65 on Thursday. The stock has a 50-day moving average price of $147.43 and a 200 day moving average price of $152.90. The company has a market cap of $288.33 billion, a P/E ratio of 17.32, a P/E/G ratio of 3.43 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. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same period last year, the business earned $3.05 EPS. The business’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, analysts expect that Chevron Co. will post 10.65 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Analyst Ratings Changes

Several research analysts have recently issued reports on CVX shares. Truist Financial increased their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Royal Bank of Canada upped their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday. Wolfe Research initiated coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Scotiabank cut their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $174.93.

Chevron Company 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.