Renaissance Investment Group LLC has reduced its position in Chevron Co., according to its most recent Form 13F filing with the SEC. The firm sold 596 shares during the second quarter, resulting in a decrease of 9.7% in its holdings. Renaissance’s stake in Chevron is now valued at $877,000.
Other institutional investors have also made changes to their positions in the company. Cantor Fitzgerald Investment Advisor L.P increased its stake in Chevron by 85.1% during the first quarter. Axiom Financial Strategies LLC boosted its position by 25.2%, while GQG Partners LLC and Lumature Wealth Partners LLC saw increases of 4.7% and 43.5% respectively. First Trust Advisors LP also added 13.8% to its holdings in Chevron.
Chevron’s stock price opened at $166.50 on Friday, experiencing a 0.4% decline. The company has a market capitalization of $310.90 billion, a PE ratio of 10.56, and a beta of 1.18. With a fifty-day moving average of $160.56 and a 200-day moving average of $160.15, Chevron’s stock has experienced steady performance.
In its quarterly earnings report released on July 28th, Chevron reported earnings per share of $3.08 for the quarter, beating the consensus estimate of $2.95 by $0.13. The company’s revenue stood at $48.90 billion, surpassing analysts’ expectations of $48 billion. For the current year, analysts project Chevron to post an EPS of 13.23.
Chevron also recently announced a quarterly dividend of $1.51 per share, which was paid on September 11th. This translates to an annualized dividend of $6.04 and a dividend yield of 3.63%. The company’s current payout ratio is 38.30%.
In terms of insider transactions, CFO Pierre R. Breber sold 25,000 shares of Chevron stock on August 11th, while VP Jeff B. Gustavson sold 3,750 shares on August 3rd. Several Wall Street analysts have provided their ratings on Chevron, with the majority giving a buy rating to the stock.
Sources:
– Securities and Exchange Commission (SEC) filing: Form 13F
– MarketBeat.com