International Assets Investment Management LLC Has $4.65 Million Stock Holdings in Chevron Co. (NYSE:CVX)

International Assets Investment Management LLC lowered its stake in Chevron Co. (NYSE:CVX) by 99.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 31,674 shares of the oil and gas company’s stock after selling 4,869,716 shares during the period. International Assets Investment Management LLC’s holdings in Chevron were worth $4,647,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CVX. Legacy Investment Solutions LLC bought a new position in Chevron during the 3rd quarter worth $29,000. Rational Advisors LLC bought a new stake in Chevron during the third quarter worth about $29,000. Darwin Wealth Management LLC bought a new stake in Chevron during the third quarter worth about $30,000. RPg Family Wealth Advisory LLC acquired a new stake in Chevron during the third quarter worth about $31,000. Finally, Cyrus J. Lawrence LLC raised its position in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company upped their price objective on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Mizuho decreased their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Finally, Royal Bank of Canada increased their price target on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $175.19.

Chevron Stock Performance

CVX traded up $1.20 on Wednesday, hitting $150.79. The company’s stock had a trading volume of 1,199,920 shares, compared to its average volume of 5,437,920. The company’s 50 day simple moving average is $153.63 and its 200-day simple moving average is $151.10. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The firm has a market cap of $270.98 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the previous year, the business earned $3.05 earnings per share. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. Analysts forecast that Chevron Co. will post 10.5 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

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.