Chevron Co. (NYSE:CVX) Shares Sold by Carson Advisory Inc.

Carson Advisory Inc. lessened its stake in Chevron Co. (NYSE:CVXGet Rating) by 12.2% in the 1st quarter, Holdings Channel reports. The firm owned 4,746 shares of the oil and gas company’s stock after selling 657 shares during the period. Carson Advisory Inc.’s holdings in Chevron were worth $773,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CVX. Norges Bank acquired a new position in shares of Chevron in the fourth quarter worth $3,111,594,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Chevron during the fourth quarter worth $119,040,000. Invesco Ltd. grew its stake in shares of Chevron by 6.8% during the fourth quarter. Invesco Ltd. now owns 14,400,260 shares of the oil and gas company’s stock worth $1,689,870,000 after purchasing an additional 917,773 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Chevron by 534.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 946,854 shares of the oil and gas company’s stock worth $111,113,000 after purchasing an additional 797,701 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Chevron by 28.9% during the fourth quarter. Renaissance Technologies LLC now owns 3,253,895 shares of the oil and gas company’s stock worth $381,845,000 after purchasing an additional 730,170 shares in the last quarter. Institutional investors and hedge funds own 65.89% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $148.48 on Tuesday. Chevron Co. has a one year low of $92.86 and a one year high of $182.40. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.22 and a current ratio of 1.43. The company has a 50-day simple moving average of $157.58 and a 200-day simple moving average of $154.05. The stock has a market capitalization of $291.73 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 0.60 and a beta of 1.14.

Chevron (NYSE:CVXGet Rating) last issued its quarterly earnings results on Friday, April 29th. The oil and gas company reported $3.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.44 by ($0.08). Chevron had a return on equity of 14.66% and a net margin of 11.10%. The firm had revenue of $54.37 billion for the quarter, compared to analyst estimates of $54.96 billion. During the same quarter last year, the firm earned $0.90 earnings per share. The company’s revenue was up 69.8% compared to the same quarter last year. On average, analysts predict that Chevron Co. will post 18.08 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Thursday, May 19th were paid a dividend of $1.42 per share. The ex-dividend date of this dividend was Wednesday, May 18th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.83%. Chevron’s dividend payout ratio (DPR) is 53.38%.

Insider Transactions at Chevron

In other news, Director Enrique Hernandez, Jr. sold 5,805 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $160.00, for a total transaction of $928,800.00. Following the transaction, the director now directly owns 22,978 shares in the company, valued at $3,676,480. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,805 shares of the company’s stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $160.00, for a total transaction of $928,800.00. Following the transaction, the director now directly owns 22,978 shares in the company, valued at $3,676,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wanda M. Austin sold 12,039 shares of the company’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $177.29, for a total transaction of $2,134,394.31. Following the transaction, the director now owns 3,543 shares in the company, valued at $628,138.47. The disclosure for this sale can be found here. Insiders have sold a total of 561,726 shares of company stock worth $94,057,396 over the last ninety days. 0.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CVX. Royal Bank of Canada downgraded shares of Chevron from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $160.00 to $165.00 in a research note on Thursday, April 21st. Cowen lowered their target price on shares of Chevron from $179.00 to $160.00 and set an “outperform” rating for the company in a research note on Friday, July 1st. Piper Sandler lowered their target price on shares of Chevron from $213.00 to $189.00 and set an “overweight” rating for the company in a research note on Tuesday, July 19th. Morgan Stanley boosted their price target on shares of Chevron from $185.00 to $190.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 19th. Finally, Raymond James boosted their price target on shares of Chevron from $173.00 to $191.00 and gave the company an “outperform” rating in a research report on Monday, April 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $172.35.

About Chevron

(Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

See Also

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVXGet Rating).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.