Novem Group Sells 4,796 Shares of Chevron Corporation (NYSE:CVX)

Novem Group trimmed its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 61.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,017 shares of the oil and gas company's stock after selling 4,796 shares during the period. Novem Group's holdings in Chevron were worth $505,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CVX. Geode Capital Management LLC boosted its stake in Chevron by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock valued at $5,247,142,000 after buying an additional 392,916 shares during the last quarter. Norges Bank purchased a new stake in shares of Chevron during the 4th quarter worth approximately $3,017,750,000. Northern Trust Corp boosted its position in shares of Chevron by 7.3% during the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock valued at $2,965,135,000 after acquiring an additional 1,394,091 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Chevron by 0.5% during the 4th quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company's stock valued at $2,502,850,000 after acquiring an additional 79,917 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Chevron by 1.3% in the fourth quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company's stock valued at $2,421,564,000 after purchasing an additional 211,023 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research reports. Wells Fargo & Company reiterated an "overweight" rating and set a $165.00 price objective (up previously from $164.00) on shares of Chevron in a research report on Thursday, June 26th. BNP Paribas lowered Chevron to a "cautious" rating in a research report on Tuesday, April 15th. TD Cowen decreased their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. HSBC cut Chevron from a "buy" rating to a "hold" rating and dropped their target price for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Finally, Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $160.41.

Chevron Trading Up 0.2%

CVX stock opened at $148.23 on Friday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The firm's 50-day moving average is $140.97 and its 200 day moving average is $148.07. The company has a market capitalization of $258.86 billion, a PE ratio of 16.94, a P/E/G ratio of 2.52 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82.

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, topping analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the company posted $2.93 earnings per share. On average, research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio is 78.17%.

Chevron 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.

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