Mizuho Markets Americas LLC Decreases Position in Chevron Co. (NYSE:CVX)

Mizuho Markets Americas LLC reduced its position in shares of Chevron Co. (NYSE:CVX) by 4.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,371 shares of the oil and gas company’s stock after selling 1,781 shares during the period. Mizuho Markets Americas LLC’s holdings in Chevron were worth $5,356,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rational Advisors LLC acquired a new stake in Chevron during the 3rd quarter worth $29,000. Anfield Capital Management LLC lifted its stake in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC boosted its position in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Krane Funds Advisors LLC purchased a new stake in Chevron during the 3rd quarter valued at about $47,000. Finally, Livelsberger Financial Advisory purchased a new position in Chevron in the 3rd quarter worth approximately $47,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock opened at $161.42 on Friday. The business’s fifty day moving average price is $149.39 and its 200 day moving average price is $152.62. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $290.09 billion, a PE ratio of 17.74, a P/E/G ratio of 3.63 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same period in the prior year, the firm earned $3.05 earnings per share. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Chevron Co. will post 10.55 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.04%. Chevron’s dividend payout ratio is presently 71.65%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CVX shares. Wells Fargo & Company dropped their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Scotiabank dropped their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Truist Financial lifted their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Royal Bank of Canada upped their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, Barclays lifted their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $174.93.

Chevron 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.