Chevron Co. (NYSE:CVX) Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. lessened its position in Chevron Co. (NYSE:CVXFree Report) by 47.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 243,574 shares of the oil and gas company’s stock after selling 217,085 shares during the period. Panagora Asset Management Inc.’s holdings in Chevron were worth $41,071,000 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. Dechtman Wealth Management LLC purchased a new position in shares of Chevron in the 2nd quarter valued at about $648,000. Altrius Capital Management Inc grew its position in Chevron by 2.1% during the third quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock worth $3,597,000 after buying an additional 434 shares during the period. Tsfg LLC increased its holdings in Chevron by 5.3% in the third quarter. Tsfg LLC now owns 3,473 shares of the oil and gas company’s stock valued at $586,000 after buying an additional 176 shares in the last quarter. Berkeley Capital Partners LLC grew its holdings in shares of Chevron by 13.1% in the 2nd quarter. Berkeley Capital Partners LLC now owns 14,333 shares of the oil and gas company’s stock worth $2,255,000 after acquiring an additional 1,661 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in Chevron by 13.4% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 79,961 shares of the oil and gas company’s stock worth $12,582,000 after purchasing an additional 9,477 shares during the last quarter. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 0.4 %

Shares of Chevron stock opened at $143.13 on Thursday. The company has a fifty day moving average price of $146.48 and a 200 day moving average price of $155.52. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 0.12. Chevron Co. has a twelve month low of $140.72 and a twelve month high of $187.81. The stock has a market cap of $270.19 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 0.72 and a beta of 1.12.

Chevron (NYSE:CVXGet Free Report) last announced its earnings results on Friday, October 27th. The oil and gas company reported $3.05 EPS for the quarter, missing the consensus estimate of $3.70 by ($0.65). The company had revenue of $54.08 billion for the quarter, compared to analysts’ expectations of $51.41 billion. Chevron had a net margin of 12.11% and a return on equity of 16.15%. The business’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. Equities research analysts forecast that Chevron Co. will post 12.96 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Friday, November 17th were paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend was Thursday, November 16th. Chevron’s dividend payout ratio (DPR) is 44.84%.

Analyst Upgrades and Downgrades

CVX has been the topic of several research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $180.00 target price on shares of Chevron in a report on Tuesday, October 24th. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 target price for the company. in a report on Tuesday. Bank of America raised shares of Chevron from a “neutral” rating to a “buy” rating and upped their price target for the company from $190.00 to $200.00 in a report on Monday, October 30th. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research report on Monday, January 8th. Finally, Morgan Stanley lowered their target price on Chevron from $203.00 to $201.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 17th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $183.28.

Read Our Latest Stock Report on Chevron

Chevron 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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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