Johnson Bixby & Associates LLC Decreases Stake in Chevron Co. (NYSE:CVX)

Johnson Bixby & Associates LLC lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,078 shares of the oil and gas company’s stock after selling 80 shares during the period. Johnson Bixby & Associates LLC’s holdings in Chevron were worth $301,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. AQR Capital Management LLC increased its holdings in shares of Chevron by 41.3% during the 2nd quarter. AQR Capital Management LLC now owns 858,155 shares of the oil and gas company’s stock worth $134,233,000 after buying an additional 250,902 shares during the last quarter. Drucker Wealth 3.0 LLC purchased a new position in shares of Chevron during the 2nd quarter worth $216,000. Deerfield Management Company L.P. Series C acquired a new stake in shares of Chevron during the 2nd quarter worth about $244,000. MBB Public Markets I LLC raised its holdings in Chevron by 2,806.8% in the 2nd quarter. MBB Public Markets I LLC now owns 124,820 shares of the oil and gas company’s stock valued at $19,524,000 after buying an additional 120,526 shares during the period. Finally, Marathon Capital Management lifted its position in Chevron by 0.8% in the second quarter. Marathon Capital Management now owns 63,513 shares of the oil and gas company’s stock valued at $9,935,000 after buying an additional 481 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $155.62 on Friday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market cap of $279.66 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. The company has a fifty day simple moving average of $153.93 and a 200-day simple moving average of $151.14.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.05 EPS. Equities analysts expect that Chevron Co. will post 10.18 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.19%. Chevron’s dividend payout ratio is presently 71.65%.

Wall Street Analyst Weigh In

CVX has been the topic of a number of research analyst reports. Piper Sandler reduced their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Barclays boosted their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Tuesday, November 5th. Truist Financial increased their target price on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Finally, Raymond James raised their target price on Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average price target of $175.27.

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.