Nissay Asset Management Corp Japan ADV Reduces Stake in Chevron Co. (NYSE:CVX)

Nissay Asset Management Corp Japan ADV lowered its stake in Chevron Co. (NYSE:CVX) by 7.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 210,803 shares of the oil and gas company’s stock after selling 17,487 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Chevron were worth $30,356,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Life Planning Partners Inc purchased a new position in shares of Chevron during the fourth quarter valued at approximately $25,000. IMG Wealth Management Inc. purchased a new stake in shares of Chevron in the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Chevron in the fourth quarter valued at approximately $29,000. Fairway Wealth LLC boosted its holdings in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares during the period. Finally, Navigoe LLC purchased a new stake in shares of Chevron in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CVX. UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. Mizuho reduced their price objective on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research note on Tuesday. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective for the company. in a research note on Tuesday, May 6th. Piper Sandler reduced their price objective on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Wells Fargo & Company reduced their price objective on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $160.24.

Chevron Price Performance

Shares of CVX opened at $142.31 on Wednesday. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a market capitalization of $250.55 billion, a P/E ratio of 14.64, a P/E/G ratio of 1.46 and a beta of 0.83. The business’s 50-day moving average is $147.51 and its two-hundred day moving average is $151.94.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS 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 last year, the firm earned $2.93 EPS. The company’s quarterly revenue was down 2.3% on a year-over-year basis. Research analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s dividend payout ratio is presently 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.