Chevron Co. (NYSE:CVX) Shares Sold by Kowal Investment Group LLC

by · The Cerbat Gem

Kowal Investment Group LLC reduced its position in Chevron Co. (NYSE:CVX – Free Report) by 19.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,019 shares of the oil and gas company’s stock after selling 2,231 shares during the quarter. Kowal Investment Group LLC’s holdings in Chevron were worth $1,328,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its holdings in Chevron by 55.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after purchasing an additional 3,048,819 shares in the last quarter. Wulff Hansen & CO. boosted its stake in shares of Chevron by 15,542.0% in the second quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock valued at $183,896,000 after buying an additional 1,168,137 shares in the last quarter. Global Assets Advisory LLC acquired a new position in Chevron during the first quarter worth $156,482,000. Capital International Investors raised its position in Chevron by 5.9% in the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after acquiring an additional 743,042 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in Chevron by 38.6% in the second quarter. Federated Hermes Inc. now owns 2,445,005 shares of the oil and gas company’s stock valued at $382,448,000 after acquiring an additional 681,394 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock opened at $148.69 on Thursday. The stock has a market capitalization of $274.03 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. The stock’s fifty day simple moving average is $145.82 and its 200-day simple moving average is $153.78. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX – Get Free Report) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the company posted $3.08 EPS. Equities research analysts expect that Chevron Co. will post 11.09 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.38%. Chevron’s payout ratio is currently 59.98%.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent analyst reports. Scotiabank lowered their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Royal Bank of Canada restated an “outperform” rating and set a $170.00 target price on shares of Chevron in a research report on Tuesday, October 8th. Barclays decreased their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Wells Fargo & Company dropped their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Finally, Truist Financial decreased their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $176.81.

View Our Latest Stock Analysis on CVX

About Chevron

(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.

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