Hunter Associates Investment Management LLC Lowers Position in Chevron Co. (NYSE:CVX)

Hunter Associates Investment Management LLC reduced its stake in Chevron Co. (NYSE:CVXFree Report) by 1.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,155 shares of the oil and gas company’s stock after selling 247 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Chevron were worth $3,027,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Chevron by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock valued at $27,303,688,000 after purchasing an additional 458,080 shares during the last quarter. Berkshire Hathaway Inc increased its holdings in Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after acquiring an additional 15,845,037 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Chevron by 8.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock worth $3,886,821,000 after acquiring an additional 1,999,332 shares during the last quarter. Norges Bank purchased a new stake in Chevron in the 4th quarter worth about $2,902,007,000. Finally, Bank of New York Mellon Corp increased its holdings in Chevron by 4.2% in the 1st quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company’s stock worth $2,540,135,000 after acquiring an additional 654,482 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of Chevron stock opened at $154.31 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The business’s 50 day simple moving average is $158.45 and its two-hundred day simple moving average is $154.99. The stock has a market capitalization of $284.39 billion, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 2.35 and a beta of 1.10. Chevron Co. has a one year low of $139.62 and a one year high of $171.70.

Chevron (NYSE:CVXGet Free Report) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the previous year, the firm earned $3.55 earnings per share. The business’s revenue was down 4.1% compared to the same quarter last year. Analysts forecast that Chevron Co. will post 13.18 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were paid a dividend of $1.63 per share. The ex-dividend date was Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.23%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the sale, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the sale, the director now directly owns 7,647 shares of the company’s stock, valued at $1,231,167. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The disclosure for this sale can be found here. Insiders have sold 16,746 shares of company stock worth $2,727,971 over the last ninety days. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on CVX. Piper Sandler lifted their price objective on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. UBS Group raised their target price on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Wells Fargo & Company raised their target price on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Finally, Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $186.95.

Check Out Our Latest Analysis on Chevron

Chevron Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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