Hudson Bay Capital Management LP Sells 34,901 Shares of Chevron Co. (NYSE:CVX)

Hudson Bay Capital Management LP reduced its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 31.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,099 shares of the oil and gas company's stock after selling 34,901 shares during the period. Hudson Bay Capital Management LP's holdings in Chevron were worth $10,877,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Allianz SE purchased a new position in Chevron in the fourth quarter valued at approximately $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 valued at $11,591,000 after purchasing an additional 3,280 shares during the period. Applied Finance Capital Management LLC grew its stake in Chevron by 1.6% during 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 fourth quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company's stock worth $174,817,000 after buying an additional 52,307 shares during the period. Finally, Dale Q Rice Investment Management Ltd purchased a new stake in Chevron in the fourth quarter valued at approximately $594,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Redburn Atlantic reaffirmed a "sell" rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Barclays downgraded shares of Chevron from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Raymond James dropped their price target on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Finally, Wells Fargo & Company reduced their price objective on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $160.24.

Chevron Stock Up 0.5%

Shares of NYSE CVX traded up $0.69 during trading on Tuesday, hitting $142.31. 8,530,825 shares of the company traded hands, compared to its average volume of 8,010,133. The business's fifty day moving average is $147.72 and its 200 day moving average is $152.01. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two 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. The firm has a market capitalization of $250.55 billion, a price-to-earnings ratio of 14.64, a P/E/G ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $49.05 billion. During the same period in the prior year, the firm earned $2.93 earnings per share. Chevron's revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders 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 4.81%. The ex-dividend date is Monday, May 19th. Chevron's payout ratio is presently 78.17%.

Chevron Company 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.