Chevron Co. (NYSE:CVX) Stock Holdings Cut by World Asset Management Inc

World Asset Management Inc reduced its position in shares of Chevron Co. (NYSE:CVX) by 2.1% in the second quarter, HoldingsChannel.com reports. The firm owned 78,723 shares of the oil and gas company’s stock after selling 1,695 shares during the period. Chevron comprises about 0.8% of World Asset Management Inc’s investment portfolio, making the stock its 20th biggest holding. World Asset Management Inc’s holdings in Chevron were worth $8,245,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Dempze Nancy E lifted its position in shares of Chevron by 2.0% during the first quarter. Dempze Nancy E now owns 4,980 shares of the oil and gas company’s stock valued at $523,000 after purchasing an additional 100 shares in the last quarter. Rede Wealth LLC lifted its position in shares of Chevron by 2.3% during the second quarter. Rede Wealth LLC now owns 4,438 shares of the oil and gas company’s stock valued at $464,000 after purchasing an additional 100 shares in the last quarter. Encompass Wealth Advisors LLC lifted its position in shares of Chevron by 1.7% during the second quarter. Encompass Wealth Advisors LLC now owns 6,110 shares of the oil and gas company’s stock valued at $640,000 after purchasing an additional 100 shares in the last quarter. Fiduciary Planning LLC lifted its position in shares of Chevron by 5.2% during the second quarter. Fiduciary Planning LLC now owns 2,039 shares of the oil and gas company’s stock valued at $214,000 after purchasing an additional 100 shares in the last quarter. Finally, Foster Group Inc. raised its position in Chevron by 2.7% in the second quarter. Foster Group Inc. now owns 3,850 shares of the oil and gas company’s stock worth $403,000 after acquiring an additional 100 shares during the period. 65.78% of the stock is owned by hedge funds and other institutional investors.

Shares of CVX traded up $1.43 during mid-day trading on Wednesday, reaching $97.63. The company’s stock had a trading volume of 304,189 shares, compared to its average volume of 10,414,321. The stock has a market cap of $188.81 billion, a PE ratio of 51.66, a P/E/G ratio of 2.85 and a beta of 1.32. The company has a current ratio of 1.17, a quick ratio of 0.95 and a debt-to-equity ratio of 0.30. Chevron Co. has a 52 week low of $65.16 and a 52 week high of $113.11. The company’s fifty day moving average price is $99.47 and its two-hundred day moving average price is $103.55.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Thursday, July 29th. The oil and gas company reported $1.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.12. Chevron had a net margin of 3.01% and a return on equity of 3.89%. The firm had revenue of $37.60 billion during the quarter, compared to analyst estimates of $35.98 billion. During the same period in the previous year, the business posted ($1.59) EPS. The business’s quarterly revenue was up 169.5% on a year-over-year basis. Research analysts anticipate that Chevron Co. will post 6.74 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Thursday, August 19th were issued a dividend of $1.34 per share. The ex-dividend date was Wednesday, August 18th. This represents a $5.36 dividend on an annualized basis and a yield of 5.49%. Chevron’s dividend payout ratio is currently -2,680.00%.

Several analysts have commented on the stock. DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $110.00 price objective on the stock. in a research report on Wednesday, August 4th. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “strong-buy” rating and set a $118.00 price objective on the stock in a research report on Wednesday, August 4th. Redburn Partners raised shares of Chevron from a “neutral” rating to a “buy” rating in a research report on Thursday, July 22nd. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and reduced their target price for the stock from $127.00 to $112.00 in a research note on Thursday, July 22nd. Finally, JPMorgan Chase & Co. downgraded shares of Chevron from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $128.00 to $111.00 in a research note on Wednesday. Eleven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $118.29.

About Chevron

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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