Chevron Co. (NYSE:CVX) Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd trimmed its holdings in Chevron Co. (NYSE:CVX) by 1.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 356,710 shares of the oil and gas company’s stock after selling 6,766 shares during the period. IFM Investors Pty Ltd’s holdings in Chevron were worth $52,533,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVX. Bogart Wealth LLC lifted its stake in Chevron by 15.2% in the 3rd quarter. Bogart Wealth LLC now owns 75,990 shares of the oil and gas company’s stock worth $11,191,000 after purchasing an additional 9,999 shares in the last quarter. Pinnacle West Asset Management Inc. grew its position in shares of Chevron by 2.3% in the third quarter. Pinnacle West Asset Management Inc. now owns 14,655 shares of the oil and gas company’s stock valued at $2,158,000 after purchasing an additional 325 shares in the last quarter. Impact Partnership Wealth LLC increased its holdings in shares of Chevron by 10.1% in the third quarter. Impact Partnership Wealth LLC now owns 7,001 shares of the oil and gas company’s stock valued at $1,031,000 after purchasing an additional 642 shares during the last quarter. Grimes & Company Inc. lifted its position in Chevron by 3.9% during the third quarter. Grimes & Company Inc. now owns 59,593 shares of the oil and gas company’s stock worth $8,776,000 after buying an additional 2,260 shares in the last quarter. Finally, PSI Advisors LLC boosted its stake in Chevron by 1.9% during the third quarter. PSI Advisors LLC now owns 12,946 shares of the oil and gas company’s stock worth $1,907,000 after buying an additional 243 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 target price on shares of Chevron in a research note on Tuesday, October 8th. UBS Group increased their price target on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Wells Fargo & Company decreased their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Finally, Wolfe Research started coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Stock Performance

NYSE:CVX opened at $150.46 on Friday. The company has a market cap of $275.18 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 3.30 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a fifty day simple moving average of $146.44 and a two-hundred day simple moving average of $153.45.

Chevron (NYSE:CVX) last issued its quarterly 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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter last year, the company earned $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities analysts anticipate that Chevron Co. will post 10.86 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.33%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 64.55%.

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.