Stokes Family Office LLC Has $8.32 Million Position in Chevron Co. (NYSE:CVX)

Stokes Family Office LLC trimmed its position in shares of Chevron Co. (NYSE:CVX) by 10.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,774 shares of the oil and gas company’s stock after selling 6,437 shares during the quarter. Chevron makes up 1.1% of Stokes Family Office LLC’s holdings, making the stock its 20th biggest holding. Stokes Family Office LLC’s holdings in Chevron were worth $8,319,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC raised its position in Chevron by 15,548.2% during the 4th quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after purchasing an additional 3,181,946 shares during the last quarter. Morgan Stanley increased its stake in shares of Chevron by 7.0% in the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after buying an additional 2,244,995 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Chevron during the third quarter worth about $348,789,000. Envestnet Asset Management Inc. lifted its stake in shares of Chevron by 36.4% in the third quarter. Envestnet Asset Management Inc. now owns 4,614,498 shares of the oil and gas company’s stock worth $778,097,000 after acquiring an additional 1,230,619 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in Chevron by 28.3% in the third quarter. California Public Employees Retirement System now owns 4,179,942 shares of the oil and gas company’s stock valued at $704,822,000 after acquiring an additional 923,119 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Down 0.3 %

CVX stock traded down $0.48 during midday trading on Friday, reaching $160.25. 11,493,744 shares of the company’s stock traded hands, compared to its average volume of 8,484,686. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a market cap of $297.63 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 2.36 and a beta of 1.11. The firm’s fifty day moving average price is $157.14 and its 200-day moving average price is $151.80. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The company had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same period in the previous year, the firm posted $3.55 earnings per share. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, sell-side analysts forecast that Chevron Co. will post 13.53 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.07%. Chevron’s dividend payout ratio is presently 59.98%.

Wall Street Analyst Weigh In

CVX has been the subject of several analyst reports. Royal Bank of Canada raised their price target on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Monday, January 8th. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a research note on Tuesday, February 6th. Finally, HSBC upped their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $185.35.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by insiders.

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.