Wintrust Investments LLC Decreases Holdings in Chevron Co. (NYSE:CVX)

Wintrust Investments LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 1.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,229 shares of the oil and gas company’s stock after selling 94 shares during the period. Wintrust Investments LLC’s holdings in Chevron were worth $1,452,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Bank Julius Baer & Co. Ltd Zurich boosted its position in Chevron by 100,509.4% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 426,861,553 shares of the oil and gas company’s stock worth $67,166,665,000 after purchasing an additional 426,437,277 shares during the period. Morgan Stanley boosted its position in Chevron by 12.7% during the 4th quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after purchasing an additional 3,711,923 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in Chevron by 104,997.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after buying an additional 24,467,521 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Chevron by 0.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 23,867,243 shares of the oil and gas company’s stock worth $3,732,044,000 after buying an additional 199,759 shares in the last quarter. Finally, Norges Bank acquired a new position in Chevron in the 4th quarter worth $3,058,235,000. 68.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. The Goldman Sachs Group upgraded shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $166.00 to $187.00 in a report on Monday, July 31st. StockNews.com assumed coverage on shares of Chevron in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Truist Financial cut their target price on shares of Chevron from $175.00 to $169.00 and set a “hold” rating on the stock in a research note on Tuesday, October 24th. Mizuho cut their target price on shares of Chevron from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Raymond James cut their target price on shares of Chevron from $200.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, October 30th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $187.89.

Chevron Price Performance

Shares of NYSE:CVX opened at $145.56 on Thursday. Chevron Co. has a fifty-two week low of $141.73 and a fifty-two week high of $187.82. The company has a market cap of $274.78 billion, a PE ratio of 10.81, a P/E/G ratio of 0.74 and a beta of 1.16. The firm has a 50-day simple moving average of $159.63 and a 200 day simple moving average of $158.50. The company has a quick ratio of 0.97, a current ratio of 1.25 and a debt-to-equity ratio of 0.12.

Chevron (NYSE:CVX) last announced its earnings results on Friday, October 27th. The oil and gas company reported $3.05 EPS for the quarter, missing the consensus estimate of $3.70 by ($0.65). Chevron had a return on equity of 16.15% and a net margin of 12.11%. The firm had revenue of $54.08 billion for the quarter, compared to the consensus estimate of $51.41 billion. During the same period in the previous year, the firm earned $5.56 EPS. Chevron’s revenue for the quarter was down 18.9% on a year-over-year basis. On average, sell-side analysts anticipate that Chevron Co. will post 13.59 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be issued a dividend of $1.51 per share. The ex-dividend date is Thursday, November 16th. This represents a $6.04 annualized dividend and a yield of 4.15%. Chevron’s payout ratio is 44.84%.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.