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

Schonfeld Strategic Advisors LLC decreased its position in Chevron Co. (NYSE:CVX) by 91.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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.

A number of other institutional investors also recently modified their holdings of the company. Allianz SE bought a new stake in shares of Chevron in the 4th quarter valued at about $9,369,000. Nicholas Company Inc. boosted its stake in shares of Chevron by 4.3% during the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock worth $11,591,000 after acquiring an additional 3,280 shares during the period. Applied Finance Capital Management LLC increased its holdings in shares of 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 acquiring an additional 2,755 shares during the last quarter. Cerity Partners LLC raised its stake in Chevron by 4.5% in the 4th quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company’s stock valued at $174,817,000 after acquiring an additional 52,307 shares during the period. Finally, Dale Q Rice Investment Management Ltd acquired a new stake in Chevron during the 4th quarter valued at $594,000. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent research reports. Truist Financial lowered their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. UBS Group reduced their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Finally, Redburn Atlantic reiterated a “sell” rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Hold” and a consensus target price of $163.75.

Chevron Price Performance

CVX stock opened at $135.48 on Tuesday. The company has a fifty day moving average price of $149.37 and a 200-day moving average price of $152.46. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a market capitalization of $238.53 billion, a P/E ratio of 13.94, a PEG ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last announced 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. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. Chevron’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.93 earnings per share. As a group, equities analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 5.05%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s dividend payout ratio is presently 78.17%.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.