Westwood Management Corp IL Reduces Holdings in Chevron Co. (NYSE:CVX)

Westwood Management Corp IL reduced its holdings in shares of Chevron Co. (NYSE:CVXGet Rating) by 8.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,492 shares of the oil and gas company’s stock after selling 308 shares during the quarter. Westwood Management Corp IL’s holdings in Chevron were worth $502,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in CVX. Cantor Fitzgerald Investment Advisor L.P grew its holdings in shares of Chevron by 85.1% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock worth $25,908,000 after buying an additional 73,141 shares in the last quarter. Axiom Financial Strategies LLC grew its holdings in shares of Chevron by 25.2% during the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after buying an additional 1,476 shares in the last quarter. GQG Partners LLC grew its holdings in shares of Chevron by 4.7% during the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after buying an additional 1,813 shares in the last quarter. Lumature Wealth Partners LLC grew its holdings in shares of Chevron by 43.5% during the first quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after buying an additional 1,770 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Chevron by 13.8% during the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after buying an additional 250,840 shares in the last quarter. 69.37% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 0.8 %

CVX opened at $176.56 on Monday. The firm has a market capitalization of $341.40 billion, a P/E ratio of 10.04, a P/E/G ratio of 0.72 and a beta of 1.18. The firm’s 50 day moving average is $178.58 and its 200-day moving average is $163.20. Chevron Co. has a 52-week low of $122.84 and a 52-week high of $189.68. The company has a quick ratio of 1.15, a current ratio of 1.40 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVXGet Rating) last posted its quarterly earnings data on Friday, October 28th. The oil and gas company reported $5.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.02 by $0.54. The company had revenue of $66.64 billion for the quarter, compared to analyst estimates of $61.44 billion. Chevron had a net margin of 14.36% and a return on equity of 22.36%. The business’s quarterly revenue was up 49.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.96 earnings per share. Analysts expect that Chevron Co. will post 19.13 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 12th. Investors of record on Friday, November 18th were paid a $1.42 dividend. The ex-dividend date of this dividend was Thursday, November 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.22%. Chevron’s dividend payout ratio (DPR) is presently 32.31%.

Insider Buying and Selling

In related news, Director Alice P. Gast sold 2,706 shares of Chevron stock in a transaction on Monday, November 21st. The shares were sold at an average price of $179.44, for a total value of $485,564.64. Following the completion of the sale, the director now owns 21,964 shares in the company, valued at $3,941,220.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Chevron news, Director Alice P. Gast sold 2,706 shares of the business’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $179.44, for a total transaction of $485,564.64. Following the completion of the sale, the director now owns 21,964 shares in the company, valued at $3,941,220.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP R. Hewitt Pate sold 32,391 shares of the business’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $180.00, for a total transaction of $5,830,380.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 293,563 shares of company stock worth $53,186,421. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CVX. Piper Sandler lowered their price target on shares of Chevron from $206.00 to $199.00 and set an “overweight” rating for the company in a report on Monday, December 19th. Cowen raised their target price on shares of Chevron from $160.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, October 31st. HSBC raised their target price on shares of Chevron to $187.00 in a research report on Friday, December 2nd. Morgan Stanley raised their target price on shares of Chevron from $193.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 19th. Finally, Cowen raised their target price on shares of Chevron from $160.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, October 31st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $185.15.

Chevron 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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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