Robeco Institutional Asset Management B.V. Reduces Stock Holdings in Chevron Co. (NYSE:CVX)

Robeco Institutional Asset Management B.V. cut its stake in Chevron Co. (NYSE:CVX) by 15.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 462,512 shares of the oil and gas company’s stock after selling 82,135 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Chevron were worth $66,990,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Quarry LP increased its stake in Chevron by 172.2% in the second quarter. Quarry LP now owns 411 shares of the oil and gas company’s stock valued at $64,000 after acquiring an additional 260 shares during the last quarter. Gibson Wealth Advisors LLC lifted its position in Chevron by 0.7% during the second quarter. Gibson Wealth Advisors LLC now owns 11,248 shares of the oil and gas company’s stock valued at $1,759,000 after buying an additional 76 shares during the period. RiverFront Investment Group LLC lifted its holdings in shares of Chevron by 12.6% during the second quarter. RiverFront Investment Group LLC now owns 69,449 shares of the oil and gas company’s stock valued at $10,863,000 after purchasing an additional 7,759 shares during the last quarter. Farmers National Bank raised its position in shares of Chevron by 0.5% in the 2nd quarter. Farmers National Bank now owns 46,044 shares of the oil and gas company’s stock worth $7,202,000 after purchasing an additional 208 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in Chevron in the 2nd quarter valued at approximately $491,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CVX shares. Barclays raised their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Wells Fargo & Company raised their price target on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Scotiabank decreased their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. UBS Group lifted their target price on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, Piper Sandler lowered their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

Chevron Stock Down 0.3 %

NYSE:CVX opened at $155.79 on Thursday. The firm has a market capitalization of $279.97 billion, a P/E ratio of 17.12, a PEG ratio of 1.37 and a beta of 1.12. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company’s fifty day moving average price is $153.67 and its 200-day moving average price is $151.13. 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 (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same period last year, the company earned $3.05 earnings per share. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron Co. will post 10.18 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.19%. Chevron’s payout ratio is 71.65%.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

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.