Chevron Co. Shares (NYSE:CVX) sold by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. reduced its position in shares of Chevron Co. (NYSE:CVX – Free Report) by 0.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 62,693 shares of the oil and gas company’s stock after selling 209 shares during the quarter. Holdings held by Ameritas Investment Partners Inc. holdings in Chevron were worth $9,806,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sound Shore Management Inc. CT raised its position in Chevron by 18.5% in the second quarter. Sound Shore Management Inc. CT now owns 85,155 shares of the oil and gas company’s stock worth $13,320,000 after acquiring an additional 13,315 shares in the last quarter. Garden State Investment Advisory Services LLC raised its stake in Chevron by 10.0% in the 2nd quarter. Garden State Investment Advisory Services LLC now owns 2,319 shares of the oil and gas company’s stock worth $364,000 after its bought an additional 210 shares in the last quarter. Sei Investments Co. grew its position in shares of Chevron by 8.5% in the second quarter. Sei Investments Co. now owns 659,273 shares of the oil and gas company’s stock worth $103,121,000 after purchasing an additional 51,564 shares during the last quarter. Cedar Wealth Management LLC raised its position in shares of Chevron by 9.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 2,808 shares of the oil and gas company’s stock worth $439,000 after buying an additional 245 shares. shares in the last quarter. Finally, Drexel Morgan & Co. boosted its stake in Chevron by 37.0% in the second quarter. Drexel Morgan & Co. now owns 3,500 shares of the oil and gas company’s stock valued at $547,000 after buying an additional 945 shares in the last quarter. 72.42% of the shares are currently held by hedge funds and other institutional investors.

The Wall Street analyst weighs in

A number of research firms recently weighed in on CVX. Mizuho cut their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. UBS Group cut their target price on shares of Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research note on Wednesday. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17. Royal Bank of Canada reduced their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Finally, Scotiabank reduced their price objective 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, 12 July. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.41, based on data from MarketBeat.com.

Read the latest stock report on Chevron

Chevron stock down 0.5%

Shares of Chevron stock opened at $145.65 on Friday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $171.70. The stock has a market cap of $268.43 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 2.48 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 company has a fifty day moving average price of $148.06 and a 200 day moving average price of $154.45.

Chevron (NYSE:CVX – Get Your Free Report ) 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). The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company earned $3.08 EPS. Equities research analysts forecast that Chevron Co. will post 11.48 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. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date was Monday, August 19. This represents a dividend of $6.52 on an annualized basis and a dividend yield of 4.48%. Chevron’s payout ratio is currently 59.98%.

About Chevron

(Free Report)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemical 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, transport and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage and trading of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.

Further reading

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