Chevron Corporation (NYSE:CVX) Shares Sold by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC reduced its stake in Chevron Corporation by 15.5%, now holding 133,820 shares valued at approximately $22.39 million.
• Chevron's recent quarterly earnings report showed earnings per share of $1.77, exceeding analysts' estimates while revenue fell by 12.4% compared to the same quarter last year.
• Chevron announced a quarterly dividend of $1.71 per share, representing a dividend yield of 4.4%, with a payout ratio of 88.03%.

Mizuho Securities USA LLC cut its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 15.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 133,820 shares of the oil and gas company's stock after selling 24,581 shares during the quarter. Chevron makes up 0.5% of Mizuho Securities USA LLC's investment portfolio, making the stock its 29th largest position. Mizuho Securities USA LLC's holdings in Chevron were worth $22,387,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. CoreCap Advisors LLC boosted its position in shares of Chevron by 0.3% in the fourth quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock worth $4,091,000 after acquiring an additional 71 shares during the last quarter. Clayton Financial Group LLC boosted its position in shares of Chevron by 4.6% in the first quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock worth $285,000 after acquiring an additional 75 shares during the last quarter. Gill Capital Partners LLC boosted its position in shares of Chevron by 4.9% in the first quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company's stock worth $271,000 after acquiring an additional 75 shares during the last quarter. Cordatus Wealth Management LLC boosted its position in shares of Chevron by 0.4% in the first quarter. Cordatus Wealth Management LLC now owns 19,723 shares of the oil and gas company's stock worth $3,299,000 after acquiring an additional 76 shares during the last quarter. Finally, Requisite Capital Management LLC boosted its position in shares of Chevron by 1.2% in the first quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company's stock worth $1,064,000 after acquiring an additional 77 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CVX shares. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Mizuho reduced their price target on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Redburn Atlantic reaffirmed a "sell" rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Jefferies Financial Group reaffirmed a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Finally, HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and reduced their price target for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $164.11.

Chevron Stock Up 1.2%

Shares of NYSE CVX traded up $1.82 during trading on Friday, reaching $154.98. 6,331,417 shares of the stock were exchanged, compared to its average volume of 12,388,930. The business's 50-day moving average price is $148.45 and its 200 day moving average price is $148.58. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $270.66 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 2.32 and a beta of 0.87.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion for the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.80%. The business's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.55 earnings per share. As a group, equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.4%. Chevron's dividend payout ratio is currently 88.03%.

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.