Capital International Investors Sells 2,036,698 Shares of Chevron Co. (NYSE:CVX)

Capital International Investors lessened its holdings in Chevron Co. (NYSE:CVX) by 21.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,590,586 shares of the oil and gas company’s stock after selling 2,036,698 shares during the quarter. Capital International Investors’ holdings in Chevron were worth $1,099,222,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Capital International Sarl lifted its stake in shares of Chevron by 22.7% in the 4th quarter. Capital International Sarl now owns 38,728 shares of the oil and gas company’s stock valued at $5,609,000 after purchasing an additional 7,166 shares during the period. Alpha DNA Investment Management LLC boosted its holdings in Chevron by 2.3% during the fourth quarter. Alpha DNA Investment Management LLC now owns 6,716 shares of the oil and gas company’s stock worth $973,000 after buying an additional 152 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Chevron by 8.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,083,929 shares of the oil and gas company’s stock valued at $156,956,000 after acquiring an additional 86,143 shares during the last quarter. Dean Investment Associates LLC boosted its stake in Chevron by 2.1% during the 4th quarter. Dean Investment Associates LLC now owns 65,320 shares of the oil and gas company’s stock worth $9,461,000 after acquiring an additional 1,327 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Chevron by 107.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 784,196 shares of the oil and gas company’s stock valued at $113,583,000 after purchasing an additional 405,411 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Trading Up 1.7 %

Shares of Chevron stock opened at $137.68 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The business has a fifty day simple moving average of $153.94 and a two-hundred day simple moving average of $153.50. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a market capitalization of $242.39 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the firm posted $3.45 EPS. Research analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 70.37%.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CVX shares. BNP Paribas lowered shares of Chevron to a “cautious” rating in a report on Tuesday. Raymond James dropped their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. UBS Group dropped their price objective 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. Wells Fargo & Company lowered their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $160.00 to $143.00 in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.50.

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.