Mackenzie Financial Corp Sells 152,581 Shares of Chevron Co. (NYSE:CVX)

Mackenzie Financial Corp trimmed its holdings in Chevron Co. (NYSE:CVX) by 8.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,611,835 shares of the oil and gas company’s stock after selling 152,581 shares during the quarter. Mackenzie Financial Corp owned about 0.09% of Chevron worth $240,421,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Windsor Advisory Group LLC raised its holdings in Chevron by 24.0% during the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock worth $627,000 after purchasing an additional 720 shares during the last quarter. Renaissance Investment Group LLC raised its holdings in Chevron by 12.7% during the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after purchasing an additional 697 shares during the last quarter. Altrius Capital Management Inc raised its holdings in Chevron by 2.1% during the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock worth $3,597,000 after purchasing an additional 434 shares during the last quarter. Camelot Portfolios LLC bought a new stake in Chevron during the 4th quarter worth about $254,000. Finally, Strategic Financial Concepts LLC raised its holdings in Chevron by 9.0% during the 3rd quarter. Strategic Financial Concepts LLC now owns 5,775 shares of the oil and gas company’s stock worth $974,000 after purchasing an additional 476 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent analyst reports. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research note on Monday, January 8th. UBS Group upped their price target on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Finally, Raymond James upped their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.55.

Chevron Trading Down 0.9 %

NYSE:CVX opened at $157.59 on Tuesday. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.54. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average price of $155.03 and a two-hundred day moving average price of $151.92. The company has a market cap of $292.69 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 2.40 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter in the prior year, the firm posted $4.09 EPS. The business’s revenue was down 16.5% on a year-over-year basis. As a group, analysts expect that Chevron Co. will post 13.24 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.14%. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio is 57.39%.

Chevron Company 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.