Calamos Advisors LLC Cuts Stock Position in Chevron Co. (NYSE:CVX)

Calamos Advisors LLC lessened its stake in Chevron Co. (NYSE:CVX) by 16.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 561,653 shares of the oil and gas company’s stock after selling 108,707 shares during the quarter. Calamos Advisors LLC’s holdings in Chevron were worth $83,776,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Windsor Advisory Group LLC increased its holdings in Chevron by 24.0% in the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock worth $627,000 after acquiring an additional 720 shares in the last quarter. Renaissance Investment Group LLC grew its holdings in shares of Chevron by 12.7% during the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after buying an additional 697 shares in the last quarter. Altrius Capital Management Inc grew its holdings in shares of Chevron by 2.1% during the third quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock worth $3,597,000 after buying an additional 434 shares in the last quarter. Camelot Portfolios LLC purchased a new stake in shares of Chevron during the fourth quarter worth $254,000. Finally, Strategic Financial Concepts LLC grew its holdings in shares of Chevron by 9.0% during the third quarter. Strategic Financial Concepts LLC now owns 5,775 shares of the oil and gas company’s stock worth $974,000 after buying an additional 476 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.7 %

Chevron stock traded up $1.17 during mid-day trading on Thursday, hitting $157.57. The company had a trading volume of 4,875,898 shares, compared to its average volume of 8,528,229. The stock has a market cap of $292.65 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 2.30 and a beta of 1.12. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $172.38. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $155.19 and a 200 day moving average of $151.86.

Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The business had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same period last year, the firm posted $4.09 earnings per share. On average, sell-side analysts expect that Chevron Co. will post 13.56 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a dividend of $1.63 per share. The ex-dividend date was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.14%. Chevron’s dividend payout ratio (DPR) is 57.39%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on CVX. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Royal Bank of Canada upped their target price on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. UBS Group upped 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. Finally, Wells Fargo & Company upped their price objective on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $184.75.

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.