Caisse DE Depot ET Placement DU Quebec Sells 176,445 Shares of Chevron Co. (CVX)

Caisse DE Depot ET Placement DU Quebec reduced its position in Chevron Co. (NYSE:CVX) by 16.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 919,600 shares of the oil and gas company’s stock after selling 176,445 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Chevron were worth $115,125,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CVX. Pictet & Cie Europe SA raised its holdings in Chevron by 87.4% in the 3rd quarter. Pictet & Cie Europe SA now owns 10,721 shares of the oil and gas company’s stock worth $1,260,000 after acquiring an additional 5,000 shares during the last quarter. Spectrum Management Group Inc. grew its position in Chevron by 44.0% in the 3rd quarter. Spectrum Management Group Inc. now owns 28,006 shares of the oil and gas company’s stock worth $3,291,000 after purchasing an additional 8,560 shares during the period. Novare Capital Management LLC grew its position in Chevron by 2.0% in the 3rd quarter. Novare Capital Management LLC now owns 46,837 shares of the oil and gas company’s stock worth $5,503,000 after purchasing an additional 920 shares during the period. Banque Pictet & Cie SA grew its position in Chevron by 1.6% in the 3rd quarter. Banque Pictet & Cie SA now owns 133,575 shares of the oil and gas company’s stock worth $15,695,000 after purchasing an additional 2,148 shares during the period. Finally, Check Capital Management Inc. CA grew its position in Chevron by 100.0% in the 3rd quarter. Check Capital Management Inc. CA now owns 7,454 shares of the oil and gas company’s stock worth $876,000 after purchasing an additional 3,727 shares during the period. Institutional investors own 64.42% of the company’s stock.

CVX has been the subject of a number of research analyst reports. Goldman Sachs Group downgraded shares of Chevron from a “conviction-buy” rating to a “buy” rating in a research report on Monday, February 5th. Barclays lifted their target price on shares of Chevron from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, April 30th. Credit Suisse Group cut their target price on shares of Chevron from $129.00 to $123.00 and set a “neutral” rating for the company in a research report on Wednesday, March 7th. Vetr raised shares of Chevron from a “hold” rating to a “buy” rating and set a $117.38 target price for the company in a research report on Tuesday, April 3rd. Finally, ValuEngine raised shares of Chevron from a “hold” rating to a “buy” rating in a research report on Wednesday, April 18th. Seven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $133.52.

Shares of Chevron stock opened at $124.30 on Friday. The firm has a market capitalization of $231.89 billion, a P/E ratio of 33.59, a PEG ratio of 2.28 and a beta of 1.14. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.21. Chevron Co. has a fifty-two week low of $102.55 and a fifty-two week high of $133.88.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 27th. The oil and gas company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.45. The company had revenue of $37.76 billion during the quarter, compared to the consensus estimate of $40.34 billion. Chevron had a net margin of 6.95% and a return on equity of 5.83%. Chevron’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.23 EPS. sell-side analysts forecast that Chevron Co. will post 7.6 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 11th. Investors of record on Friday, May 18th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.60%. The ex-dividend date is Thursday, May 17th. Chevron’s dividend payout ratio is currently 121.08%.

In related news, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction on Tuesday, April 17th. The shares were sold at an average price of $121.97, for a total value of $3,110,235.00. Following the completion of the transaction, the vice president now owns 25,500 shares of the company’s stock, valued at approximately $3,110,235. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael K. Wirth sold 130,000 shares of the company’s stock in a transaction on Monday, May 7th. The stock was sold at an average price of $128.00, for a total transaction of $16,640,000.00. Following the completion of the transaction, the chief executive officer now directly owns 130,000 shares of the company’s stock, valued at approximately $16,640,000. The disclosure for this sale can be found here. Insiders sold a total of 386,500 shares of company stock valued at $49,748,880 in the last ninety days. 0.38% of the stock is currently owned by insiders.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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