Metis Global Partners LLC Has $14.21 Million Stock Holdings in Chevron Corporation $CVX

Metis Global Partners LLC reduced its stake in shares of Chevron Corporation (NYSE:CVX) by 5.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 99,216 shares of the oil and gas company’s stock after selling 5,344 shares during the period. Metis Global Partners LLC’s holdings in Chevron were worth $14,207,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quadrant Private Wealth Management LLC lifted its position in Chevron by 34.9% in the 2nd quarter. Quadrant Private Wealth Management LLC now owns 25,405 shares of the oil and gas company’s stock valued at $3,638,000 after acquiring an additional 6,569 shares in the last quarter. Kinsale Capital Group Inc. raised its stake in shares of Chevron by 12.8% in the 2nd quarter. Kinsale Capital Group Inc. now owns 44,457 shares of the oil and gas company’s stock valued at $6,366,000 after purchasing an additional 5,038 shares during the period. Chancellor Financial Group WB LP lifted its holdings in shares of Chevron by 14.4% in the second quarter. Chancellor Financial Group WB LP now owns 4,870 shares of the oil and gas company’s stock valued at $697,000 after purchasing an additional 613 shares in the last quarter. Nvwm LLC lifted its holdings in shares of Chevron by 714.1% in the second quarter. Nvwm LLC now owns 2,939 shares of the oil and gas company’s stock valued at $421,000 after purchasing an additional 2,578 shares in the last quarter. Finally, Walkner Condon Financial Advisors LLC boosted its position in shares of Chevron by 23.9% during the second quarter. Walkner Condon Financial Advisors LLC now owns 1,860 shares of the oil and gas company’s stock worth $266,000 after buying an additional 359 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CVX shares. UBS Group lifted their target price on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Mizuho lowered their price objective on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Evercore ISI reissued an “outperform” rating and issued a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. Bank of America increased their target price on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $160.00 price target (down from $170.00) on shares of Chevron in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $165.40.

Chevron Stock Performance

CVX opened at $155.10 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The business has a 50 day moving average of $155.55 and a 200-day moving average of $149.62. The stock has a market cap of $268.01 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 4.40 and a beta of 0.83.

Chevron (NYSE:CVX) last posted its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. During the same period in the previous year, the firm earned $2.48 EPS. The firm’s revenue was down 1.9% compared to the same quarter last year. On average, equities research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be given a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s dividend payout ratio is presently 96.20%.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. This represents a 77.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the sale, the director owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

Chevron 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.