Chevron Co. (NYSE:CVX) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC lessened its stake in shares of Chevron Co. (NYSE:CVX) by 8.8% in the second quarter, Holdings Channel.com reports. The fund owned 474,702 shares of the oil and gas company’s stock after selling 45,685 shares during the quarter. Calamos Advisors LLC’s holdings in Chevron were worth $74,253,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. American Capital Advisory LLC lifted its position in shares of Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 125 shares during the last quarter. Bare Financial Services Inc acquired a new stake in Chevron during the 4th quarter valued at $27,000. Frank Rimerman Advisors LLC acquired a new stake in Chevron during the 4th quarter valued at $30,000. Cooksen Wealth LLC acquired a new stake in Chevron during the 4th quarter valued at $40,000. Finally, Clear Investment Research LLC raised its stake in Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 204 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the topic of several recent analyst reports. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Scotiabank dropped their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Barclays dropped their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Truist Financial dropped their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Finally, Wolfe Research started coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average price target of $183.82.

Chevron Stock Performance

CVX stock traded up $1.89 during mid-day trading on Friday, reaching $147.62. 4,824,078 shares of the stock traded hands, compared to its average volume of 7,814,477. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average of $152.97 and a two-hundred day moving average of $155.81. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The firm has a market capitalization of $272.06 billion, a PE ratio of 13.58, a P/E/G ratio of 2.46 and a beta of 1.10.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the previous year, the business posted $3.08 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities analysts predict that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.42%. The ex-dividend date is Monday, August 19th. Chevron’s payout ratio is presently 59.98%.

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.