Chevron Co. (NYSE:CVX) Shares Sold by Xponance Inc.

Xponance Inc. reduced its position in Chevron Co. (NYSE:CVX) by 2.7% in the 2nd quarter, Holdings Channel reports. The firm owned 233,540 shares of the oil and gas company’s stock after selling 6,471 shares during the period. Xponance Inc.’s holdings in Chevron were worth $36,530,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in CVX. Berkshire Hathaway Inc grew its position in shares of Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after acquiring an additional 15,845,037 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Chevron by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company’s stock valued at $2,540,135,000 after buying an additional 654,482 shares during the last quarter. Capital World Investors boosted its stake in shares of Chevron by 3.2% during the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after buying an additional 495,879 shares during the period. Capital International Investors increased its position in Chevron by 5.9% in the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after acquiring an additional 743,042 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Chevron by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock valued at $2,036,846,000 after acquiring an additional 126,889 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CVX shares. Scotiabank cut their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Royal Bank of Canada lowered their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. UBS Group decreased their price target on Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Truist Financial reduced their target price on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Finally, Wolfe Research began coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $182.41.

Chevron Stock Up 0.5 %

CVX stock opened at $145.68 on Monday. Chevron Co. has a one year low of $135.37 and a one year high of $171.70. The stock has a market capitalization of $268.48 billion, a P/E ratio of 13.40, a PEG ratio of 2.48 and a beta of 1.09. The company has a 50 day moving average price of $148.06 and a two-hundred day moving average price of $154.53. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.08 earnings per share. As a group, sell-side analysts expect that Chevron Co. will post 11.48 EPS for the current year.

Chevron Announces Dividend

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

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.