Kovitz Investment Group Partners LLC Lowers Stock Holdings in Chevron Co. (NYSE:CVX)

Kovitz Investment Group Partners LLC lessened its holdings in shares of Chevron Co. (NYSE:CVXFree Report) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,325 shares of the oil and gas company’s stock after selling 208 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Chevron were worth $898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cantor Fitzgerald Investment Advisor L.P boosted its stake in Chevron by 85.1% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock worth $25,908,000 after purchasing an additional 73,141 shares during the period. Axiom Financial Strategies LLC grew its position in shares of Chevron by 25.2% during the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock valued at $1,155,000 after purchasing an additional 1,476 shares in the last quarter. GQG Partners LLC increased its holdings in shares of Chevron by 4.7% in the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after purchasing an additional 1,813 shares during the last quarter. Lumature Wealth Partners LLC lifted its position in shares of Chevron by 43.5% in the first quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after buying an additional 1,770 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Chevron by 13.8% during the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock valued at $336,830,000 after buying an additional 250,840 shares during the last quarter. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on CVX shares. UBS Group decreased their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, December 14th. Royal Bank of Canada upped their target price on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target for the company. in a research report on Tuesday, January 16th. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a research report on Tuesday, February 6th. Finally, Sanford C. Bernstein raised Chevron from a “market perform” rating to an “outperform” rating and cut their target price for the company from $184.00 to $182.00 in a research report on Thursday, November 2nd. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $180.95.

Get Our Latest Analysis on CVX

Chevron Trading Down 2.0 %

NYSE:CVX opened at $151.04 on Monday. The stock has a market capitalization of $285.13 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 0.81 and a beta of 1.13. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $173.51. The company has a quick ratio of 0.97, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The firm has a 50 day moving average of $147.87 and a 200 day moving average of $154.47.

Chevron (NYSE:CVXGet Free Report) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same quarter last year, the firm earned $4.09 EPS. The business’s quarterly revenue was down 16.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron Co. will post 13.03 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 11th. Investors of record on Friday, February 16th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 4.32%. Chevron’s dividend payout ratio (DPR) is 53.17%.

About Chevron

(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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