Chevron Co. (NYSE:CVX) Shares Sold by PKO Investment Management Joint Stock Co

PKO Investment Management Joint Stock Co cut its holdings in Chevron Co. (NYSE:CVX) by 11.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 46,973 shares of the oil and gas company’s stock after selling 5,900 shares during the period. Chevron accounts for about 0.9% of PKO Investment Management Joint Stock Co’s holdings, making the stock its 24th biggest position. PKO Investment Management Joint Stock Co’s holdings in Chevron were worth $7,858,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in Chevron by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock valued at $5,247,142,000 after purchasing an additional 392,916 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Chevron by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after buying an additional 746,806 shares during the last quarter. Norges Bank purchased a new position in shares of Chevron in the 4th quarter worth $3,017,750,000. Northern Trust Corp boosted its holdings in Chevron by 7.3% in the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock valued at $2,965,135,000 after acquiring an additional 1,394,091 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in Chevron by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock valued at $2,881,280,000 after acquiring an additional 410,460 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVX has been the topic of several research reports. BNP Paribas lowered shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. TD Cowen cut their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Mizuho cut their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Finally, UBS Group reduced their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and an average price target of $160.24.

Chevron Price Performance

Shares of CVX stock opened at $146.07 on Tuesday. The firm has a market cap of $255.09 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.46 and a beta of 0.83. The firm has a fifty day moving average of $138.72 and a two-hundred day moving average of $148.91. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $49.05 billion. During the same period in the previous year, the company earned $2.93 earnings per share. Chevron’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, research analysts anticipate 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 was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.68%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio is currently 78.17%.

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.