Mon Sep 23 17:42:59 UTC 2024: ## Steel Grove Capital Advisors Cuts Chevron Holdings Amidst Mixed Investor Sentiment

**New York, NY – September 23, 2024** – Steel Grove Capital Advisors LLC, a prominent investment firm, reduced its stake in Chevron Co. (NYSE: CVX) by 3.3% during the second quarter, according to HoldingsChannel. The firm now owns 17,522 shares of the energy giant, valued at $2,741,000.

While Steel Grove trimmed its holdings, other institutional investors took a more bullish stance. Berkshire Hathaway Inc significantly increased its Chevron position by 14.4% in the fourth quarter, now owning 126,093,326 shares. Capital World Investors and Massachusetts Financial Services Co. MA also boosted their stakes in the oil and gas company by 43.5% and 55.5% respectively. Public Employees Retirement Association of Colorado made a massive 68,604.0% increase, while Wulff Hansen & CO. lifted its holdings by 15,542.0%.

Overall, institutional investors currently own 72.42% of Chevron’s stock.

Analysts remain divided on Chevron’s prospects. While Barclays, Royal Bank of Canada, and Scotiabank lowered their price targets, Truist Financial maintained a “hold” rating. Wolfe Research initiated coverage with a “peer perform” rating. The consensus rating on MarketBeat.com is “Moderate Buy” with an average price target of $182.41.

Chevron recently reported earnings that missed analyst estimates, posting $2.55 per share for the second quarter, compared to an expected $2.93. Revenue came in at $51.18 billion, slightly exceeding expectations.

Despite the mixed sentiment, Chevron remains a dividend stalwart, recently paying a quarterly dividend of $1.63 per share, representing an annualized yield of 4.48%.

The future of Chevron remains uncertain, with investors closely watching the evolving energy landscape and its impact on the oil and gas industry.

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