Hudson Bay Capital Management LP Sells 34,901 Shares of Chevron Co. (NYSE:CVX)

Hudson Bay Capital Management LP reduced its position in Chevron Co. (NYSE:CVX) by 31.7% during the fourth quarter, HoldingsChannel reports. The firm owned 75,099 shares of the oil and gas company’s stock after selling 34,901 shares during the period. Hudson Bay Capital Management LP’s holdings in Chevron were worth $10,877,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. IMG Wealth Management Inc. bought a new stake in shares of Chevron in the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron in the 4th quarter valued at $29,000. Fairway Wealth LLC boosted its stake in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares during the last quarter. Navigoe LLC bought a new stake in shares of Chevron in the 4th quarter valued at $33,000. Finally, New Wave Wealth Advisors LLC bought a new stake in shares of Chevron in the 4th quarter valued at $39,000. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on CVX shares. Redburn Atlantic reiterated a “sell” rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a research report on Tuesday, May 6th. Raymond James dropped their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Finally, Truist Financial dropped their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $161.25.

Chevron Stock Performance

Shares of CVX stock opened at $138.52 on Monday. The firm has a 50-day moving average of $147.91 and a 200-day moving average of $152.07. The company has a market cap of $243.88 billion, a P/E ratio of 14.25, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.93 earnings per share. Equities research analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.94%. Chevron’s payout ratio is currently 78.17%.

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.