Elo Mutual Pension Insurance Co Sells 37,091 Shares of Chevron Co. (NYSE:CVX)

Elo Mutual Pension Insurance Co lessened its position in Chevron Co. (NYSE:CVX) by 19.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 153,160 shares of the oil and gas company’s stock after selling 37,091 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Chevron were worth $23,957,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the company. Gilbert & Cook Inc. lifted its stake in Chevron by 3.7% in the fourth quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock valued at $1,538,000 after buying an additional 369 shares in the last quarter. Aveo Capital Partners LLC raised its stake in shares of Chevron by 1.0% in the 4th quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock valued at $1,285,000 after purchasing an additional 82 shares during the period. Gryphon Financial Partners LLC raised its holdings in Chevron by 55.0% during the fourth quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company’s stock worth $1,648,000 after acquiring an additional 4,047 shares in the last quarter. TrinityPoint Wealth LLC boosted its position in Chevron by 6.8% during the fourth quarter. TrinityPoint Wealth LLC now owns 10,646 shares of the oil and gas company’s stock valued at $1,588,000 after purchasing an additional 680 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of Chevron by 2.4% during the 4th quarter. Assetmark Inc. now owns 118,336 shares of the oil and gas company’s stock worth $17,651,000 after purchasing an additional 2,825 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on CVX. Wolfe Research assumed coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Royal Bank of Canada decreased their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Mizuho decreased their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Barclays dropped their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.88.

Chevron Trading Up 1.0 %

Shares of Chevron stock opened at $143.46 on Wednesday. The firm has a market capitalization of $262.38 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $148.69 and its 200 day moving average is $154.61. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $171.70.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the previous year, the firm posted $3.08 EPS. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts forecast that Chevron Co. will post 11.57 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.54%. Chevron’s payout ratio is presently 59.98%.

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.