Elo Mutual Pension Insurance Co Sells 37,091 Shares of Chevron Co. (NYSE:CVX)

Elo Mutual Pension Insurance Co trimmed its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 19.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 153,160 shares of the oil and gas company's stock after selling 37,091 shares during the period. Elo Mutual Pension Insurance Co's holdings in Chevron were worth $23,957,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Gilbert & Cook Inc. increased its position in shares of Chevron by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company's stock valued at $1,538,000 after acquiring an additional 369 shares in the last quarter. Aveo Capital Partners LLC increased its position in shares of Chevron by 1.0% during the fourth quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company's stock valued at $1,285,000 after acquiring an additional 82 shares in the last quarter. Gryphon Financial Partners LLC increased its position in shares of Chevron by 55.0% during the fourth quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company's stock valued at $1,648,000 after acquiring an additional 4,047 shares in the last quarter. TrinityPoint Wealth LLC increased its position in shares of Chevron by 6.8% during the fourth quarter. TrinityPoint Wealth LLC now owns 10,646 shares of the oil and gas company's stock valued at $1,588,000 after acquiring an additional 680 shares in the last quarter. Finally, Assetmark Inc. increased its position in shares of Chevron by 2.4% during the fourth quarter. Assetmark Inc. now owns 118,336 shares of the oil and gas company's stock valued at $17,651,000 after acquiring an additional 2,825 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

CVX stock traded up $0.55 during mid-day trading on Wednesday, hitting $143.96. The company had a trading volume of 6,178,210 shares, compared to its average volume of 7,758,974. The company has a market capitalization of $263.29 billion, a price-to-earnings ratio of 13.21, a P/E/G ratio of 2.41 and a beta of 1.09. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $171.70. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $148.69 and a 200 day moving average price of $154.61.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS 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%. The firm's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.08 EPS. On average, research analysts anticipate that Chevron Co. will post 11.57 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.53%. The ex-dividend date was Monday, August 19th. Chevron's payout ratio is currently 59.98%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Truist Financial reduced their price target on shares of Chevron from $156.00 to $154.00 and set a "hold" rating for the company in a research report on Monday, August 5th. Sanford C. Bernstein downgraded shares of Chevron from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Wolfe Research started coverage on shares of Chevron in a research report on Thursday, July 18th. They set a "peer perform" rating for the company. Mizuho cut their price objective on shares of Chevron from $205.00 to $189.00 and set an "outperform" rating for the company in a research report on Monday. Finally, Barclays cut their price objective on shares of Chevron from $203.00 to $185.00 and set an "overweight" rating for the company in a research report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $182.41.

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.