Global X Japan Co. Ltd. Cuts Holdings in Chevron Co. (NYSE:CVX)

Global X Japan Co. Ltd. trimmed its position in Chevron Co. (NYSE:CVX) by 8.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,605 shares of the oil and gas company’s stock after selling 248 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Chevron were worth $407,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. American Capital Advisory LLC boosted 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. Frank Rimerman Advisors LLC bought a new position in Chevron during the fourth quarter valued at $30,000. Anfield Capital Management LLC grew its stake in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares in the last quarter. Cooksen Wealth LLC bought a new stake in shares of Chevron in the 4th quarter worth about $40,000. Finally, Clear Investment Research LLC raised its position in shares of 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 buying an additional 204 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Up 1.3 %

Shares of NYSE:CVX opened at $140.30 on Tuesday. The business’s 50 day moving average is $150.50 and its 200 day moving average is $155.16. The stock has a market cap of $256.60 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 2.34 and a beta of 1.09. Chevron Co. has a 52-week low of $137.87 and a 52-week high of $171.70. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.08 EPS. Sell-side analysts predict that Chevron Co. will post 11.86 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.65%. Chevron’s dividend payout ratio is currently 59.98%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CVX. Mizuho lifted their price target on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Truist Financial dropped their target price on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Wolfe Research assumed coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Barclays dropped their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, Scotiabank reduced their target price 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. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $183.82.

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.