Calamos Advisors LLC Sells 58,957 Shares of Chevron Corporation $CVX

Calamos Advisors LLC lessened its stake in Chevron Corporation (NYSE:CVX) by 12.5% during the second quarter, HoldingsChannel reports. The firm owned 411,027 shares of the oil and gas company’s stock after selling 58,957 shares during the period. Calamos Advisors LLC’s holdings in Chevron were worth $58,855,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of CVX. Analyst IMS Investment Management Services Ltd. increased its holdings in Chevron by 1.0% in the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock worth $966,000 after acquiring an additional 67 shares during the last quarter. Greenfield Savings Bank grew its stake in Chevron by 0.6% in the 2nd quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock valued at $1,663,000 after buying an additional 68 shares in the last quarter. Atwater Malick LLC raised its holdings in Chevron by 2.4% during the 2nd quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock valued at $413,000 after acquiring an additional 68 shares during the period. Hubbell Strickland Wealth Management LLC lifted its position in shares of Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock worth $1,443,000 after acquiring an additional 68 shares in the last quarter. Finally, Clarity Wealth Advisors LLC boosted its holdings in shares of Chevron by 1.7% in the second quarter. Clarity Wealth Advisors LLC now owns 4,170 shares of the oil and gas company’s stock worth $597,000 after acquiring an additional 69 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Trading Down 1.8%

NYSE:CVX opened at $153.38 on Thursday. The firm has a market capitalization of $308.84 billion, a P/E ratio of 19.74, a P/E/G ratio of 4.40 and a beta of 0.83. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $155.24 and a 200 day moving average of $150.07.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.71 by $0.14. The firm had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.48 earnings per share. On average, research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. Chevron’s dividend payout ratio is presently 96.20%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wells Fargo & Company began coverage on Chevron in a research note on Friday, October 17th. They set an “overweight” rating and a $190.00 price objective on the stock. Melius Research initiated coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Piper Sandler lowered their price target on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a report on Monday. TD Cowen boosted their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. Finally, Barclays decreased their target price on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Chevron presently has a consensus rating of “Hold” and an average price target of $165.45.

Insider Activity at Chevron

In related news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

Chevron Company 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.