KBC Group NV Reduces Holdings in Chevron Co. (NYSE:CVX)

KBC Group NV lessened its holdings in Chevron Co. (NYSE:CVX) by 33.4% during the 4th quarter, Holdings Channel reports. The firm owned 163,463 shares of the oil and gas company’s stock after selling 82,119 shares during the quarter. KBC Group NV’s holdings in Chevron were worth $23,676,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Rational Advisors LLC purchased a new stake in Chevron in the 3rd quarter valued at approximately $29,000. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron in the third quarter valued at $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron during the third quarter valued at $30,000. RPg Family Wealth Advisory LLC purchased a new stake in Chevron during the 3rd quarter worth about $31,000. Finally, Krane Funds Advisors LLC acquired a new position in Chevron in the 3rd quarter valued at about $47,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 0.6 %

CVX opened at $156.24 on Wednesday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm has a 50 day moving average price of $153.74 and a 200 day moving average price of $151.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a market cap of $280.78 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last year, the firm posted $3.05 EPS. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. Sell-side analysts expect that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is 71.65%.

Wall Street Analysts Forecast Growth

CVX has been the topic of several analyst reports. Scotiabank decreased their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. UBS Group raised their target price on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada boosted their price target on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Wells Fargo & Company raised their price objective on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Finally, Bank of America started coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

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.