Mackenzie Financial Corp trimmed its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 11.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 876,351 shares of the oil and gas company's stock after selling 112,703 shares during the quarter. Mackenzie Financial Corp's holdings in Chevron were worth $126,931,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. acquired a new stake in Chevron during the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Chevron in the 4th quarter worth approximately $29,000. 10Elms LLP acquired a new position in shares of Chevron in the 4th quarter worth approximately $29,000. Fairway Wealth LLC boosted its holdings in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after acquiring an additional 88 shares in the last quarter. Finally, Navigoe LLC acquired a new position in shares of Chevron in the 4th quarter worth approximately $33,000. 72.42% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
CVX has been the topic of several recent analyst reports. BNP Paribas downgraded Chevron to a "cautious" rating in a report on Tuesday, April 15th. Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Piper Sandler reduced their target price on Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. UBS Group reduced their target price on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, Raymond James reduced their target price on Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Chevron presently has an average rating of "Hold" and a consensus price target of $160.24.
Read Our Latest Report on CVX
Chevron Stock Performance
Shares of Chevron stock opened at $136.66 on Friday. The firm has a fifty day moving average of $144.66 and a two-hundred day moving average of $151.21. The stock has a market capitalization of $238.66 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.
Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.93 EPS. As a group, equities research analysts predict that Chevron Co. will post 10.79 EPS for the current year.
Chevron Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 5.01%. The ex-dividend date is Monday, May 19th. Chevron's payout ratio is 78.17%.
Chevron Company Profile
(
Free Report)
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.
Further Reading
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