Desjardins Global Asset Management Inc. Has $2.12 Million Stake in Chevron Co. (NYSE:CVX)

Desjardins Global Asset Management Inc. reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 24.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,203 shares of the oil and gas company’s stock after selling 4,685 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Chevron were worth $2,118,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CVX. NCM Capital Management LLC lifted its stake in Chevron by 1.2% during the first quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock worth $909,000 after purchasing an additional 65 shares during the period. Sweet Financial Partners LLC boosted its stake in Chevron by 0.7% in the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock worth $1,477,000 after purchasing an additional 65 shares during the period. Strategic Investment Advisors MI lifted its position in Chevron by 3.8% during the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after buying an additional 65 shares in the last quarter. Alera Investment Advisors LLC raised its holdings in shares of Chevron by 1.0% in the 3rd quarter. Alera Investment Advisors LLC now owns 6,486 shares of the oil and gas company’s stock valued at $1,094,000 after purchasing an additional 67 shares during the period. Finally, Global Trust Asset Management LLC raised its holdings in shares of Chevron by 1.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 6,852 shares of the oil and gas company’s stock valued at $1,155,000 after purchasing an additional 67 shares during the period. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on CVX shares. Raymond James increased their price objective on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a report on Monday, January 8th. UBS Group lifted their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Finally, Wells Fargo & Company lifted their price objective on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $183.55.

Chevron Stock Down 0.8 %

Shares of NYSE CVX opened at $156.28 on Wednesday. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $172.54. The stock has a market cap of $290.25 billion, a P/E ratio of 13.76, a PEG ratio of 2.37 and a beta of 1.12. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The business’s fifty day simple moving average is $155.11 and its 200-day simple moving average is $151.83.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The company had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.09 EPS. As a group, equities analysts predict that Chevron Co. will post 13.28 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a dividend of $1.63 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is currently 57.39%.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron 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 transaction, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.18% of the stock is owned by corporate insiders.

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.