Mizuho Securities USA LLC Has $16.24 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Mizuho Securities USA LLC trimmed its holdings in Chevron Co. (NYSE:CVX) by 16.5% in the 3rd quarter, Holdings Channel reports. The fund owned 110,294 shares of the oil and gas company’s stock after selling 21,862 shares during the quarter. Mizuho Securities USA LLC’s holdings in Chevron were worth $16,243,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. China Universal Asset Management Co. Ltd. bought a new stake in Chevron in the first quarter valued at approximately $566,000. Capital International Inc. CA boosted its holdings in shares of Chevron by 11.7% in the first quarter. Capital International Inc. CA now owns 125,640 shares of the oil and gas company’s stock valued at $19,818,000 after buying an additional 13,135 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of Chevron by 10.9% in the first quarter. Canada Pension Plan Investment Board now owns 554,754 shares of the oil and gas company’s stock valued at $87,507,000 after buying an additional 54,744 shares during the period. Stonebridge Capital Advisors LLC boosted its holdings in shares of Chevron by 6.7% in the first quarter. Stonebridge Capital Advisors LLC now owns 88,564 shares of the oil and gas company’s stock valued at $13,970,000 after buying an additional 5,538 shares during the period. Finally, Gamco Investors INC. ET AL boosted its holdings in shares of Chevron by 6.0% in the first quarter. Gamco Investors INC. ET AL now owns 27,377 shares of the oil and gas company’s stock valued at $4,318,000 after buying an additional 1,552 shares during the period. 72.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVX. Scotiabank reduced their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Royal Bank of Canada upped their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Wells Fargo & Company reduced their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Tuesday, November 5th. Finally, Bank of America began coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Stock Performance

NYSE:CVX opened at $161.30 on Thursday. The firm has a market capitalization of $289.87 billion, a P/E ratio of 17.73, a P/E/G ratio of 3.59 and a beta of 1.09. The company has a fifty day moving average of $150.70 and a 200-day moving average of $152.63. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.05 EPS. As a group, sell-side analysts anticipate that Chevron Co. will post 10.55 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is 71.65%.

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.