CoreCommodity Management LLC Decreases Holdings in Chevron Co. (NYSE:CVX)

CoreCommodity Management LLC lessened its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 81.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,096 shares of the oil and gas company's stock after selling 8,930 shares during the period. CoreCommodity Management LLC's holdings in Chevron were worth $304,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. acquired a new stake in Chevron during the 4th quarter worth $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron during the fourth quarter worth about $29,000. Fairway Wealth LLC increased its position in shares of Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 88 shares in the last quarter. Navigoe LLC purchased a new stake in shares of Chevron in the 4th quarter valued at about $33,000. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares of the company's stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wells Fargo & Company reduced their price objective on Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research note on Monday. DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target for the company. in a research note on Tuesday. Redburn Atlantic restated a "sell" rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Scotiabank downgraded shares of Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Finally, TD Cowen dropped their price target on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research report on Monday. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron currently has a consensus rating of "Hold" and a consensus target price of $161.25.

Chevron Stock Up 0.3 %

CVX stock opened at $135.87 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company's 50-day moving average price is $148.95 and its 200 day moving average price is $152.34. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a market cap of $239.22 billion, a P/E ratio of 13.98, a P/E/G ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping 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 business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the previous year, the company earned $2.93 EPS. The company's quarterly revenue was down 2.3% on a year-over-year basis. On average, research analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 5.03%. The ex-dividend date is Monday, May 19th. Chevron's dividend payout ratio (DPR) is presently 78.17%.

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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