Bayesian Capital Management LP Lowers Position in Chevron Co. (NYSE:CVX)

Bayesian Capital Management LP trimmed its position in Chevron Co. (NYSE:CVX - Free Report) by 98.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,596 shares of the oil and gas company's stock after selling 100,000 shares during the period. Bayesian Capital Management LP's holdings in Chevron were worth $231,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Allianz SE purchased a new stake in Chevron in the fourth quarter worth about $9,369,000. Nicholas Company Inc. boosted its position in shares of Chevron by 4.3% in the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock worth $11,591,000 after purchasing an additional 3,280 shares in the last quarter. Applied Finance Capital Management LLC grew its stake in shares of Chevron by 1.6% in the 4th quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company's stock worth $26,044,000 after buying an additional 2,755 shares during the last quarter. Cerity Partners LLC increased its position in Chevron by 4.5% during the 4th quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company's stock valued at $174,817,000 after buying an additional 52,307 shares in the last quarter. Finally, Dale Q Rice Investment Management Ltd purchased a new position in Chevron during the fourth quarter valued at $594,000. Institutional investors own 72.42% of the company's stock.

Chevron Stock Up 1.0 %

Shares of CVX stock opened at $137.21 on Friday. The company has a 50 day simple moving average of $148.18 and a two-hundred day simple moving average of $152.14. The stock has a market cap of $241.57 billion, a P/E ratio of 14.12, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the previous year, the business earned $2.93 earnings per share. Chevron's quarterly revenue was down 2.3% compared to the same quarter last year. On average, research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.99%. The ex-dividend date is Monday, May 19th. Chevron's dividend payout ratio is currently 78.17%.

Analyst Upgrades and Downgrades

CVX has been the subject of several analyst reports. TD Cowen reduced their price target on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a report on Monday. Raymond James decreased their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. UBS Group cut their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Barclays lowered shares of Chevron from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Finally, Redburn Atlantic reiterated a "sell" rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $161.25.

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.

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