Chevron Co. (NYSE:CVX) Shares Sold by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC lowered its position in shares of Chevron Co. (NYSE:CVXGet Rating) by 1.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 354,275 shares of the oil and gas company’s stock after selling 4,755 shares during the period. Chevron accounts for approximately 2.1% of Clifford Swan Investment Counsel LLC’s portfolio, making the stock its 8th largest position. Clifford Swan Investment Counsel LLC’s holdings in Chevron were worth $57,687,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Your Advocates Ltd. LLP acquired a new position in shares of Chevron during the first quarter worth $25,000. Joseph P. Lucia & Associates LLC acquired a new position in shares of Chevron during the first quarter worth $30,000. Joseph Group Capital Management acquired a new position in shares of Chevron during the fourth quarter worth $1,105,000. Rational Advisors LLC grew its stake in shares of Chevron by 116.3% during the fourth quarter. Rational Advisors LLC now owns 225 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 121 shares in the last quarter. Finally, Curi Wealth Management LLC acquired a new position in shares of Chevron during the fourth quarter worth $30,000. Institutional investors and hedge funds own 65.89% of the company’s stock.

Chevron Trading Up 3.0 %

Shares of Chevron stock opened at $148.48 on Tuesday. Chevron Co. has a 52-week low of $92.86 and a 52-week high of $182.40. The company has a quick ratio of 1.22, a current ratio of 1.43 and a debt-to-equity ratio of 0.20. The company’s 50-day simple moving average is $157.58 and its 200-day simple moving average is $154.05. The firm has a market cap of $291.73 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth 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. As a group, equities research analysts anticipate that Chevron Co. will post 18.08 earnings per share 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 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. In other Chevron news, Director Wanda M. Austin sold 12,039 shares of the company’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $177.29, for a total transaction of $2,134,394.31. Following the transaction, the director now directly owns 3,543 shares in the company, valued at $628,138.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Enrique Hernandez, Jr. sold 5,805 shares of the company’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $160.00, for a total transaction of $928,800.00. Following the transaction, the director now owns 22,978 shares in the company, valued at $3,676,480. 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 Ratings Changes

CVX has been the subject of a number of analyst reports. Credit Suisse Group boosted their target price on shares of Chevron from $190.00 to $202.00 and gave the stock an “outperform” rating in a research note on Thursday, June 9th. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and reduced their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 20th. Royal Bank of Canada cut shares of Chevron from an “outperform” rating to a “sector perform” rating and boosted their price target for the company from $160.00 to $165.00 in a research report on Thursday, April 21st. Piper Sandler reduced their price target on shares of Chevron from $213.00 to $189.00 and set an “overweight” rating for the company in a research report on Tuesday, July 19th. Finally, Societe Generale cut shares of Chevron from a “buy” rating to a “hold” rating and set a $175.00 price target for the company. in a research report on Friday, May 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $172.35.

Chevron Company Profile

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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

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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