Chevron Co. (NYSE:CVX) Shares Sold by Stevens Capital Management LP

Stevens Capital Management LP cut its stake in shares of Chevron Co. (NYSE:CVX) by 69.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 3,001 shares of the oil and gas company’s stock after selling 6,730 shares during the period. Stevens Capital Management LP’s holdings in Chevron were worth $448,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Chevron by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after acquiring an additional 458,080 shares in the last quarter. Morgan Stanley raised its position in shares of Chevron by 7.0% in the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after purchasing an additional 2,244,995 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Chevron by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock valued at $4,059,834,000 after purchasing an additional 368,898 shares in the last quarter. Northern Trust Corp raised its position in shares of Chevron by 2.6% in the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock valued at $3,828,537,000 after purchasing an additional 569,850 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Chevron by 0.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 14,814,522 shares of the oil and gas company’s stock valued at $2,499,684,000 after purchasing an additional 62,254 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

CVX traded up $1.70 during trading on Thursday, reaching $165.27. 9,694,216 shares of the company were exchanged, compared to its average volume of 8,464,199. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The stock has a market cap of $306.95 billion, a P/E ratio of 14.39, a PEG ratio of 2.40 and a beta of 1.12. The firm has a 50 day moving average of $156.14 and a 200 day moving average of $151.75. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same quarter in the prior year, the business posted $4.09 earnings per share. The company’s revenue for the quarter was down 16.5% compared to the same quarter last year. On average, sell-side analysts forecast that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 3.95%. Chevron’s dividend payout ratio is presently 57.39%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Royal Bank of Canada upped their target price on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Mizuho boosted their price target on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Finally, Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Monday, January 8th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $184.75.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.18% 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.