Schonfeld Strategic Advisors LLC Has $2.14 Million Stake in Chevron Co. (NYSE:CVX)

Schonfeld Strategic Advisors LLC trimmed its position in Chevron Co. (NYSE:CVX - Free Report) by 91.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,782 shares of the oil and gas company's stock after selling 158,520 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Chevron were worth $2,141,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Life Planning Partners Inc acquired a new position in Chevron in the fourth quarter worth approximately $25,000. IMG Wealth Management Inc. bought a new stake in shares of Chevron in the fourth quarter valued at about $25,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron during the 4th quarter worth approximately $29,000. Fairway Wealth LLC increased its holdings in 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 purchasing an additional 88 shares in the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new stake in Chevron during the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Raymond James cut their price objective on Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research report on Monday, February 3rd. DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a research note on Tuesday. Wells Fargo & Company lowered their target price on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a research note on Monday. Redburn Atlantic reiterated a "sell" rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, BNP Paribas lowered Chevron to a "cautious" rating in a research report on Tuesday, April 15th. 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 company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $161.25.

Chevron Stock Performance

Shares of CVX stock traded up $0.37 during trading hours on Tuesday, reaching $135.87. The company had a trading volume of 9,896,842 shares, compared to its average volume of 7,982,014. The business has a fifty day moving average price of $149.37 and a 200-day moving average price of $152.46. 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 cap of $239.22 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron Co. has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.93 earnings per share. Sell-side analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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 issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.03%. Chevron's dividend payout ratio is currently 78.17%.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares of the company's stock, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.20% of the company's stock.

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.