Chevron Co. (NYSE:CVX) Shares Sold by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. lessened its position in shares of Chevron Co. (NYSE:CVX) by 0.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 62,693 shares of the oil and gas company’s stock after selling 209 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Chevron were worth $9,806,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sound Shore Management Inc. CT raised its position in Chevron by 18.5% during the second quarter. Sound Shore Management Inc. CT now owns 85,155 shares of the oil and gas company’s stock worth $13,320,000 after acquiring an additional 13,315 shares during the last quarter. Garden State Investment Advisory Services LLC increased its stake in shares of Chevron by 10.0% during the 2nd quarter. Garden State Investment Advisory Services LLC now owns 2,319 shares of the oil and gas company’s stock worth $364,000 after purchasing an additional 210 shares in the last quarter. Sei Investments Co. raised its position in shares of Chevron by 8.5% during the 2nd quarter. Sei Investments Co. now owns 659,273 shares of the oil and gas company’s stock worth $103,121,000 after purchasing an additional 51,564 shares during the last quarter. Cedar Wealth Management LLC raised its position in shares of Chevron by 9.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 2,808 shares of the oil and gas company’s stock worth $439,000 after purchasing an additional 245 shares during the last quarter. Finally, Drexel Morgan & Co. lifted its stake in Chevron by 37.0% in the 2nd quarter. Drexel Morgan & Co. now owns 3,500 shares of the oil and gas company’s stock valued at $547,000 after buying an additional 945 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CVX. Mizuho cut their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. UBS Group cut their target price on shares of Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research note on Wednesday. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Royal Bank of Canada cut their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Finally, Scotiabank reduced their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.41.

Chevron Stock Up 0.5 %

Shares of Chevron stock opened at $145.65 on Friday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $171.70. The stock has a market cap of $268.43 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 2.48 and a beta of 1.09. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average price of $148.06 and a 200 day moving average price of $154.45.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.08 EPS. Equities research analysts forecast that Chevron Co. will post 11.48 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.48%. Chevron’s payout ratio is currently 59.98%.

About Chevron

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.