Bokf Na Sells 14,612 Shares of Chevron Co. (NYSE:CVX)

Bokf Na reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 7.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 195,440 shares of the oil and gas company’s stock after selling 14,612 shares during the quarter. Bokf Na’s holdings in Chevron were worth $30,571,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVX. Norges Bank bought a new position in Chevron during the fourth quarter worth $2,902,007,000. Berkshire Hathaway Inc lifted its stake in shares of Chevron by 14.4% during the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after buying an additional 15,845,037 shares during the last quarter. Capital World Investors lifted its stake in shares of Chevron by 43.5% during the 4th quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock worth $2,314,070,000 after buying an additional 4,700,289 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Chevron by 13.0% during the 4th quarter. Franklin Resources Inc. now owns 15,622,388 shares of the oil and gas company’s stock worth $2,330,235,000 after buying an additional 1,797,171 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its stake in Chevron by 68,604.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,207,817 shares of the oil and gas company’s stock valued at $180,158,000 after buying an additional 1,206,059 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Shares of NYSE:CVX opened at $137.82 on Thursday. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $252.06 billion, a PE ratio of 12.68, a PEG ratio of 2.34 and a beta of 1.09. The firm has a 50 day moving average of $149.75 and a 200-day moving average of $154.92. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.08 earnings per share. On average, equities research analysts predict that Chevron Co. will post 11.86 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.73%. Chevron’s dividend payout ratio is currently 59.98%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CVX shares. Scotiabank cut their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Truist Financial dropped their price target on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Wolfe Research started coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada reduced their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $183.82.

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.