Chevron Co. (NYSE:CVX) Position Decreased by Court Place Advisors LLC

Court Place Advisors LLC reduced its holdings in Chevron Co. (NYSE:CVX) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,247 shares of the oil and gas company’s stock after selling 291 shares during the quarter. Court Place Advisors LLC’s holdings in Chevron were worth $1,050,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quarry LP boosted its stake in shares of Chevron by 172.2% during the 2nd quarter. Quarry LP now owns 411 shares of the oil and gas company’s stock worth $64,000 after acquiring an additional 260 shares in the last quarter. Next Capital Management LLC lifted its holdings in shares of Chevron by 22.9% during the second quarter. Next Capital Management LLC now owns 2,012 shares of the oil and gas company’s stock valued at $315,000 after purchasing an additional 375 shares during the last quarter. Pathway Financial Advisers LLC boosted its position in shares of Chevron by 1.5% in the 2nd quarter. Pathway Financial Advisers LLC now owns 24,614 shares of the oil and gas company’s stock valued at $3,832,000 after purchasing an additional 372 shares during the period. McGinn Penninger Investment Management Inc. increased its stake in Chevron by 1.9% in the 2nd quarter. McGinn Penninger Investment Management Inc. now owns 28,818 shares of the oil and gas company’s stock worth $4,508,000 after purchasing an additional 540 shares in the last quarter. Finally, SPC Financial Inc. raised its holdings in Chevron by 23.8% during the 2nd quarter. SPC Financial Inc. now owns 5,671 shares of the oil and gas company’s stock worth $887,000 after buying an additional 1,092 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

NYSE CVX opened at $156.24 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $280.78 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a 50 day moving average price of $153.74 and a two-hundred day moving average price of $151.12.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.05 EPS. As a group, equities analysts predict that Chevron Co. will post 10.18 earnings per share 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 issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio is 71.65%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. UBS Group raised their target price on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Royal Bank of Canada raised their price objective on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Piper Sandler cut their target price 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 raised their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Citigroup raised Chevron from a “neutral” rating to a “buy” rating and upped their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

About Chevron

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.