Ossiam Decreases Holdings in Chevron Corporation $CVX

Ossiam reduced its stake in Chevron Corporation (NYSE:CVX) by 76.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 81,359 shares of the oil and gas company’s stock after selling 270,538 shares during the quarter. Ossiam’s holdings in Chevron were worth $11,650,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CVX. Analyst IMS Investment Management Services Ltd. lifted its position in shares of Chevron by 1.0% during the second quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock worth $966,000 after acquiring an additional 67 shares in the last quarter. Greenfield Savings Bank lifted its holdings in Chevron by 0.6% during the 2nd quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock worth $1,663,000 after purchasing an additional 68 shares in the last quarter. Atwater Malick LLC boosted its stake in Chevron by 2.4% in the 2nd quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock worth $413,000 after purchasing an additional 68 shares during the period. Hubbell Strickland Wealth Management LLC increased its position in shares of Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock valued at $1,443,000 after buying an additional 68 shares during the period. Finally, Clarity Wealth Advisors LLC lifted its holdings in shares of Chevron by 1.7% in the second quarter. Clarity Wealth Advisors LLC now owns 4,170 shares of the oil and gas company’s stock worth $597,000 after buying an additional 69 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 275,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the transaction, the director owned 1,128,045 shares of the company’s stock, valued at approximately $170,052,783.75. This represents a 19.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

CVX has been the subject of several recent analyst reports. Raymond James Financial reaffirmed an “outperform” rating and set a $160.00 price objective (down previously from $170.00) on shares of Chevron in a research note on Friday, October 17th. Morgan Stanley boosted their price target on shares of Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Wells Fargo & Company boosted their target price on Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $166.16.

Chevron Price Performance

CVX stock opened at $148.62 on Tuesday. The firm’s 50-day moving average price is $153.08 and its two-hundred day moving average price is $151.82. The stock has a market capitalization of $299.25 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 8.85 and a beta of 0.68. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The firm had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period last year, the company earned $2.48 EPS. As a group, equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s payout ratio is presently 96.20%.

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.