LSV Asset Management Sells 13,600 Shares of Chevron Co. (NYSE:CVX)

LSV Asset Management lessened its holdings in Chevron Co. (NYSE:CVX) by 5.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 246,949 shares of the oil and gas company’s stock after selling 13,600 shares during the period. LSV Asset Management’s holdings in Chevron were worth $38,954,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Berkshire Hathaway Inc lifted its holdings in shares of Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after acquiring an additional 15,845,037 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Chevron by 8.2% during the fourth 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 acquiring an additional 1,999,332 shares in the last quarter. Norges Bank bought a new stake in shares of Chevron during the fourth quarter valued at approximately $2,902,007,000. Bank of New York Mellon Corp raised its stake in shares of Chevron by 4.2% during the first quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company’s stock valued at $2,540,135,000 after acquiring an additional 654,482 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Chevron by 13.0% during the fourth quarter. Franklin Resources Inc. now owns 15,622,388 shares of the oil and gas company’s stock valued at $2,330,235,000 after acquiring an additional 1,797,171 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the topic of several research reports. Barclays assumed coverage on shares of Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. UBS Group boosted their target price on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Mizuho boosted their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Truist Financial upped their price objective on shares of Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Finally, Wells Fargo & Company increased their price target on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $187.06.

Chevron Price Performance

Shares of NYSE CVX traded up $0.36 on Friday, hitting $155.62. The company’s stock had a trading volume of 6,443,501 shares, compared to its average volume of 7,932,770. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The company has a market capitalization of $286.80 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 2.35 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The stock has a 50 day moving average of $157.85 and a 200-day moving average of $155.03.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. The company had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.55 earnings per share. As a group, research analysts predict that Chevron Co. will post 13.18 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio is presently 59.98%.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the company’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 owns 276 shares of the company’s stock, valued at $45,540. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,746 shares of company stock valued at $2,727,971. Insiders own 0.20% of the company’s stock.

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.