Vista Investment Management Sells 394 Shares of Chevron Co. (NYSE:CVX)

Vista Investment Management decreased its holdings in Chevron Co. (NYSE:CVX) by 4.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 7,828 shares of the oil and gas company’s stock after selling 394 shares during the quarter. Vista Investment Management’s holdings in Chevron were worth $1,134,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Norges Bank bought a new position in shares of Chevron during the 4th quarter worth approximately $3,017,750,000. Raymond James Financial Inc. bought a new stake in Chevron during the fourth quarter worth $1,036,302,000. Bank of New York Mellon Corp raised its stake in shares of Chevron by 17.3% during the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after purchasing an additional 2,432,756 shares during the period. Amundi raised its stake in shares of Chevron by 27.7% during the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock worth $1,323,549,000 after purchasing an additional 1,910,262 shares during the period. Finally, Capital World Investors raised its holdings in shares of Chevron by 11.4% in the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company’s stock worth $2,039,288,000 after purchasing an additional 1,440,808 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CVX. HSBC lowered Chevron from a “buy” rating to a “hold” rating and decreased their price objective for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. UBS Group lowered their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Piper Sandler decreased their target price on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Redburn Atlantic reaffirmed a “sell” rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, Barclays cut shares of Chevron from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Chevron has an average rating of “Hold” and an average price target of $160.24.

Chevron Stock Performance

CVX opened at $138.52 on Tuesday. The company’s 50 day moving average is $146.37 and its 200 day moving average is $151.71. The company has a market cap of $241.91 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating 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 firm had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same period in the previous year, the firm earned $2.93 EPS. The business’s quarterly revenue was down 2.3% on a year-over-year basis. On average, equities research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.94%. Chevron’s dividend payout ratio is presently 78.17%.

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.