Sompo Japan Nipponkoa Asset Management CO. LTD. lessened its stake in shares of Chevron Co. (NYSE:CVX) by 37.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,020 shares of the oil and gas company’s stock after selling 34,200 shares during the quarter. Chevron makes up about 2.1% of Sompo Japan Nipponkoa Asset Management CO. LTD.’s portfolio, making the stock its 15th biggest position. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Chevron were worth $7,220,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVX. Beese Fulmer Investment Management Inc. boosted its position in shares of Chevron by 0.4% in the 2nd quarter. Beese Fulmer Investment Management Inc. now owns 58,040 shares of the oil and gas company’s stock worth $7,222,000 after purchasing an additional 238 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Chevron by 74.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,387,145 shares of the oil and gas company’s stock worth $171,630,000 after purchasing an additional 592,920 shares in the last quarter. Curbstone Financial Management Corp boosted its position in shares of Chevron by 22.9% in the 2nd quarter. Curbstone Financial Management Corp now owns 17,360 shares of the oil and gas company’s stock worth $2,160,000 after purchasing an additional 3,230 shares in the last quarter. Sandy Spring Bank boosted its position in shares of Chevron by 1.7% in the 2nd quarter. Sandy Spring Bank now owns 71,983 shares of the oil and gas company’s stock worth $8,957,000 after purchasing an additional 1,217 shares in the last quarter. Finally, Cordatus Wealth Management LLC acquired a new stake in shares of Chevron in the 4th quarter worth $473,000. 66.45% of the stock is currently owned by institutional investors and hedge funds.

CVX has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Barclays initiated coverage on Chevron in a research note on Monday. They issued an “overweight” rating and a $145.00 target price for the company. BMO Capital Markets initiated coverage on Chevron in a research note on Tuesday. They issued an “outperform” rating and a $165.00 target price for the company. Zacks Investment Research lowered Chevron from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, Citigroup initiated coverage on Chevron in a research note on Monday, May 13th. They issued a “buy” rating and a $135.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $136.78.

In other Chevron news, Chairman Michael K. Wirth sold 33,750 shares of Chevron stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $125.60, for a total transaction of $4,239,000.00. Following the completion of the transaction, the chairman now owns 33,750 shares in the company, valued at approximately $4,239,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph C. Geagea sold 8,000 shares of Chevron stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $122.50, for a total value of $980,000.00. Following the transaction, the insider now owns 9,243 shares of the company’s stock, valued at approximately $1,132,267.50. The disclosure for this sale can be found here. Insiders have sold a total of 51,750 shares of company stock valued at $6,448,700 in the last quarter. Company insiders own 0.31% of the company’s stock.

Shares of NYSE CVX traded up $1.66 during trading on Wednesday, reaching $117.79. 552,360 shares of the company traded hands, compared to its average volume of 6,095,443. The firm’s fifty day simple moving average is $122.50 and its 200 day simple moving average is $121.41. The stock has a market cap of $219.86 billion, a P/E ratio of 14.28, a PEG ratio of 2.79 and a beta of 1.00. Chevron Co. has a 12-month low of $100.22 and a 12-month high of $127.60. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.53. The business had revenue of $38.85 billion during the quarter, compared to analyst estimates of $40.14 billion. Chevron had a return on equity of 9.58% and a net margin of 9.18%. The company’s revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the business posted $1.78 EPS. As a group, research analysts expect that Chevron Co. will post 6.93 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be paid a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.04%. Chevron’s payout ratio is currently 57.70%.

About Chevron

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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