Courier Capital LLC Lowers Holdings in Chevron Co. (NYSE:CVX)

Courier Capital LLC reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,132 shares of the oil and gas company’s stock after selling 1,045 shares during the period. Courier Capital LLC’s holdings in Chevron were worth $9,958,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Chevron by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock valued at $27,303,688,000 after purchasing an additional 458,080 shares during the last quarter. Berkshire Hathaway Inc boosted its position in shares of 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 in the last quarter. Morgan Stanley increased 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 acquiring an additional 2,244,995 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Chevron by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock worth $3,886,821,000 after acquiring an additional 1,999,332 shares in the last quarter. Finally, Norges Bank purchased a new stake in Chevron during the fourth quarter worth approximately $2,902,007,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at $45,540. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the sale, the director now owns 7,647 shares in the company, valued at approximately $1,231,167. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The disclosure for this sale can be found here. Insiders have sold 19,546 shares of company stock valued at $3,176,223 in the last quarter. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

NYSE CVX traded up $0.10 during trading hours on Friday, hitting $156.42. 11,234,612 shares of the stock were exchanged, compared to its average volume of 8,082,886. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The company has a market cap of $288.28 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The stock has a 50-day moving average of $159.32 and a 200 day moving average of $154.52.

Chevron (NYSE:CVX) last issued 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 during the quarter, compared to the consensus estimate of $48.42 billion. During the same period in the prior year, the business posted $3.55 EPS. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, equities research analysts forecast that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a dividend of $1.63 per share. The ex-dividend date was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.17%. Chevron’s payout ratio is 59.98%.

Analyst Ratings Changes

Several equities analysts have commented on CVX shares. Mizuho increased their price target on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. HSBC lifted their price target on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. TD Cowen raised their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a report on Monday, April 1st. 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 note on Thursday, April 18th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $186.95.

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.