Calamos Advisors LLC Reduces Position in Chevron Co. (NYSE:CVX)

Calamos Advisors LLC lowered its holdings in Chevron Co. (NYSE:CVXGet Rating) by 3.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 802,433 shares of the oil and gas company’s stock after selling 32,595 shares during the period. Calamos Advisors LLC’s holdings in Chevron were worth $130,660,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. Norges Bank purchased a new stake in shares of Chevron in the fourth quarter valued at $3,111,594,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Chevron in the fourth quarter valued at $119,040,000. Invesco Ltd. grew its position in shares of Chevron by 6.8% in the fourth quarter. Invesco Ltd. now owns 14,400,260 shares of the oil and gas company’s stock valued at $1,689,870,000 after purchasing an additional 917,773 shares during the period. Los Angeles Capital Management LLC grew its position in shares of Chevron by 534.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 946,854 shares of the oil and gas company’s stock valued at $111,113,000 after purchasing an additional 797,701 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Chevron by 28.9% in the fourth quarter. Renaissance Technologies LLC now owns 3,253,895 shares of the oil and gas company’s stock valued at $381,845,000 after acquiring an additional 730,170 shares during the last quarter. Hedge funds and other institutional investors own 65.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CVX shares. Credit Suisse Group lifted their target price on Chevron from $190.00 to $202.00 and gave the company an “outperform” rating in a report on Thursday, June 9th. Cowen reduced their target price on Chevron from $179.00 to $160.00 and set an “outperform” rating on the stock in a report on Friday, July 1st. Piper Sandler reduced their target price on Chevron from $213.00 to $189.00 and set an “overweight” rating on the stock in a report on Tuesday, July 19th. StockNews.com started coverage on Chevron in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Truist Financial reduced their target price on Chevron from $170.00 to $166.00 and set a “hold” rating on the stock in a report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $172.35.

Insider Activity at Chevron

In related news, VP Eimear P. Bonner sold 478 shares of the business’s stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $169.21, for a total value of $80,882.38. Following the completion of the sale, the vice president now directly owns 358 shares of the company’s stock, valued at $60,577.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Eimear P. Bonner sold 478 shares of the company’s stock in a transaction that occurred on Friday, May 6th. The stock was sold at an average price of $169.21, for a total transaction of $80,882.38. Following the completion of the transaction, the vice president now directly owns 358 shares of the company’s stock, valued at $60,577.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Enrique Hernandez, Jr. sold 5,805 shares of the company’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $160.00, for a total value of $928,800.00. Following the transaction, the director now directly owns 22,978 shares of the company’s stock, valued at $3,676,480. The disclosure for this sale can be found here. Insiders sold a total of 561,726 shares of company stock valued at $94,057,396 over the last three months. 0.32% of the stock is owned by insiders.

Chevron Stock Up 3.0 %

Shares of NYSE CVX opened at $148.48 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.22 and a current ratio of 1.43. The firm has a market cap of $291.73 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 0.60 and a beta of 1.14. Chevron Co. has a 1 year low of $92.86 and a 1 year high of $182.40. The stock’s 50-day simple moving average is $157.58 and its 200-day simple moving average is $154.05.

Chevron (NYSE:CVXGet Rating) last announced its quarterly earnings data on Friday, April 29th. The oil and gas company reported $3.36 earnings per share for the quarter, missing the consensus estimate of $3.44 by ($0.08). The firm had revenue of $54.37 billion during the quarter, compared to the consensus estimate of $54.96 billion. Chevron had a net margin of 11.10% and a return on equity of 14.66%. The firm’s quarterly revenue was up 69.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 earnings per share. As a group, equities analysts anticipate that Chevron Co. will post 18.08 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Thursday, May 19th were issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 3.83%. The ex-dividend date was Wednesday, May 18th. Chevron’s dividend payout ratio is currently 53.38%.

About Chevron

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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