Chevron Co. (NYSE:CVX) Shares Sold by Investment Partners Asset Management Inc.

Investment Partners Asset Management Inc. cut its position in Chevron Co. (NYSE:CVX) by 5.1% in the first quarter, Holdings Channel reports. The firm owned 2,479 shares of the oil and gas company’s stock after selling 132 shares during the period. Investment Partners Asset Management Inc.’s holdings in Chevron were worth $391,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Chevron by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after acquiring an additional 458,080 shares during the period. Berkshire Hathaway Inc lifted its position in 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 acquiring an additional 15,845,037 shares during the period. Morgan Stanley lifted its holdings in shares of Chevron by 7.0% in the 3rd 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. Charles Schwab Investment Management Inc. lifted its holdings in shares of Chevron by 8.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock valued at $3,886,821,000 after buying an additional 1,999,332 shares during the period. Finally, Norges Bank acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $2,902,007,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CVX. Mizuho raised their price objective on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. TD Cowen raised their price target on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Wells Fargo & Company raised their price target on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Raymond James raised their price target on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Finally, Piper Sandler raised their price target on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $186.95.

Insider Activity at Chevron

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the sale, the director now directly owns 7,647 shares of the company’s stock, valued at $1,231,167. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the sale, the director now directly owns 7,647 shares of the company’s stock, valued at $1,231,167. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the transaction, the director now directly owns 2,549 shares of the company’s stock, valued at $416,761.50. The disclosure for this sale can be found here. Insiders sold a total of 19,546 shares of company stock valued at $3,176,223 over the last three months. 0.20% of the stock is owned by insiders.

Chevron Stock Up 0.1 %

Shares of CVX traded up $0.13 during midday trading on Thursday, reaching $156.08. 2,432,509 shares of the company were exchanged, compared to its average volume of 8,031,823. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The company has a market cap of $287.65 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 2.41 and a beta of 1.12. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $159.32 and a 200-day moving average price of $154.52.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same period in the previous year, the company earned $3.55 earnings per share. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. Research analysts expect that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.18%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

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.