Chevron Corporation $CVX Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its stake in shares of Chevron Corporation (NYSE:CVX) by 47.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 545,726 shares of the oil and gas company’s stock after selling 485,689 shares during the quarter. Mackenzie Financial Corp’s holdings in Chevron were worth $78,143,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd lifted its stake in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 122 shares during the period. Elequin Capital LP purchased a new position in Chevron during the first quarter worth about $31,000. Quaker Wealth Management LLC raised its holdings in Chevron by 197.7% during the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 439 shares in the last quarter. Vermillion & White Wealth Management Group LLC lifted its position in Chevron by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 118 shares during the period. Finally, IMG Wealth Management Inc. boosted its holdings in Chevron by 52.3% in the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 91 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the sale, the director directly owned 1,128,045 shares in the company, valued at $170,052,783.75. This represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on CVX shares. Wells Fargo & Company raised their price target on Chevron from $190.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Morgan Stanley raised their target price on Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. Mizuho upped their price target on shares of Chevron from $191.00 to $204.00 and gave the stock an “outperform” rating in a research note on Thursday, November 13th. Barclays reduced their price objective on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Finally, UBS Group upped their target price on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Ten research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $165.58.

Chevron Price Performance

Chevron stock opened at $151.21 on Friday. The firm has a market capitalization of $304.46 billion, a PE ratio of 19.46, a P/E/G ratio of 4.40 and a beta of 0.83. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The firm’s 50-day simple moving average is $153.97 and its 200 day simple moving average is $151.22. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last announced its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. During the same quarter in the previous year, the business posted $2.48 earnings per share. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Tuesday, November 18th. Chevron’s payout ratio is currently 96.20%.

Chevron 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.