Calamos Advisors LLC Lowers Holdings in Chevron Co. (NYSE:CVX)

Calamos Advisors LLC cut its position in Chevron Co. (NYSE:CVX) by 16.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 561,653 shares of the oil and gas company’s stock after selling 108,707 shares during the quarter. Calamos Advisors LLC’s holdings in Chevron were worth $83,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Picton Mahoney Asset Management purchased a new stake in Chevron in the 3rd quarter worth approximately $26,000. Valley Forge Investment Consultants Inc. ADV raised its position in shares of Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 80 shares in the last quarter. Valued Wealth Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter valued at $33,000. Worth Asset Management LLC purchased a new stake in shares of Chevron during the 1st quarter valued at $36,000. Finally, Legacy Financial Group LLC purchased a new stake in shares of Chevron during the 3rd quarter valued at $43,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 0.7 %

Shares of CVX traded up $1.17 during trading hours on Thursday, reaching $157.57. 4,875,898 shares of the company traded hands, compared to its average volume of 8,528,229. The company’s fifty day moving average price is $155.19 and its two-hundred day moving average price is $151.86. The company has a market capitalization of $292.65 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 2.30 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.38.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same period last year, the company posted $4.09 EPS. Chevron’s revenue was down 16.5% on a year-over-year basis. Equities research analysts predict that Chevron Co. will post 13.56 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a dividend of $1.63 per share. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.14%. Chevron’s dividend payout ratio is 57.39%.

Wall Street Analyst Weigh In

CVX has been the topic of several research reports. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Raymond James raised their price objective on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research report on Tuesday, February 6th. UBS Group lifted their target price on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Finally, Royal Bank of Canada lifted their target price on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $184.75.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is owned by insiders.

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.