Calamos Advisors LLC Has $58.86 Million Stake in Chevron Corporation $CVX

Calamos Advisors LLC reduced its position in Chevron Corporation (NYSE:CVX) by 12.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 411,027 shares of the oil and gas company’s stock after selling 58,957 shares during the quarter. Calamos Advisors LLC’s holdings in Chevron were worth $58,855,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Hudock Inc. grew its holdings in Chevron by 1.7% during the 2nd quarter. Hudock Inc. now owns 17,772 shares of the oil and gas company’s stock worth $2,545,000 after acquiring an additional 299 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its position in shares of Chevron by 4.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 247,657 shares of the oil and gas company’s stock valued at $35,462,000 after purchasing an additional 9,624 shares in the last quarter. Bailard Inc. grew its stake in Chevron by 13.2% during the second quarter. Bailard Inc. now owns 98,838 shares of the oil and gas company’s stock worth $14,153,000 after purchasing an additional 11,552 shares during the period. Renasant Bank increased its holdings in Chevron by 42.1% in the second quarter. Renasant Bank now owns 3,481 shares of the oil and gas company’s stock worth $498,000 after purchasing an additional 1,032 shares in the last quarter. Finally, Maple Capital Management Inc. increased its holdings in Chevron by 4.6% in the second quarter. Maple Capital Management Inc. now owns 170,324 shares of the oil and gas company’s stock worth $24,389,000 after purchasing an additional 7,475 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Piper Sandler cut their price target on Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a report on Monday. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Raymond James Financial reaffirmed 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. UBS Group upped their price objective on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Finally, Bank of America raised their target price on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $165.45.

Chevron Trading Down 1.8%

Shares of Chevron stock opened at $153.38 on Thursday. The company has a market capitalization of $308.84 billion, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83. The stock has a fifty day simple moving average of $155.24 and a 200 day simple moving average of $150.07. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

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

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s dividend payout ratio is presently 96.20%.

Insider Activity

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

About Chevron

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.