Nissay Asset Management Corp Japan ADV Lowers Stock Holdings in Chevron Co. (NYSE:CVX)

Nissay Asset Management Corp Japan ADV lowered its position in shares of Chevron Co. (NYSE:CVX) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,803 shares of the oil and gas company’s stock after selling 17,487 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Chevron were worth $30,356,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of Chevron by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock valued at $5,247,142,000 after acquiring an additional 392,916 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Chevron by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock valued at $4,613,960,000 after buying an additional 746,806 shares during the last quarter. Norges Bank bought a new position in shares of Chevron during the 4th quarter valued at $3,017,750,000. Northern Trust Corp lifted its holdings in shares of Chevron by 7.3% during the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock valued at $2,965,135,000 after buying an additional 1,394,091 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in shares of Chevron by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock valued at $2,881,280,000 after buying an additional 410,460 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. HSBC cut Chevron from a “buy” rating to a “hold” rating and lowered their price target for the company from $176.00 to $158.00 in a report on Tuesday. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. Truist Financial lowered their price target on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Mizuho lowered their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Redburn Atlantic reissued a “sell” rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Chevron presently has a consensus rating of “Hold” and an average target price of $160.24.

Chevron Trading Up 0.5%

Shares of Chevron stock opened at $142.31 on Wednesday. The firm has a market cap of $250.55 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.46 and a beta of 0.83. The business has a 50-day moving average price of $147.51 and a 200-day moving average price of $151.94. 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 $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.93 earnings per share. Equities research analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.81%. Chevron’s dividend payout ratio is currently 78.17%.

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.