Amalgamated Bank Sells 27,040 Shares of Chevron Co. (NYSE:CVX)

Amalgamated Bank cut its stake in Chevron Co. (NYSE:CVX) by 6.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 421,445 shares of the oil and gas company’s stock after selling 27,040 shares during the quarter. Chevron comprises about 0.5% of Amalgamated Bank’s holdings, making the stock its 25th biggest holding. Amalgamated Bank’s holdings in Chevron were worth $62,863,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Chevron by 0.3% in the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after buying an additional 458,080 shares during the last quarter. Morgan Stanley raised its stake in shares of Chevron by 7.0% in the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after buying an additional 2,244,995 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Chevron by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock valued at $4,059,834,000 after buying an additional 368,898 shares in the last quarter. Northern Trust Corp boosted its stake in Chevron by 2.6% in the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock worth $3,828,537,000 after purchasing an additional 569,850 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of Chevron by 0.4% during the third quarter. Ameriprise Financial Inc. now owns 14,814,522 shares of the oil and gas company’s stock valued at $2,499,684,000 after purchasing an additional 62,254 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

Shares of CVX stock traded up $1.10 during mid-day trading on Thursday, hitting $160.73. 8,572,483 shares of the stock were exchanged, compared to its average volume of 8,425,420. The stock has a market capitalization of $298.52 billion, a price-to-earnings ratio of 14.77, a P/E/G ratio of 2.38 and a beta of 1.11. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The stock’s fifty day simple moving average is $157.04 and its two-hundred day simple moving average is $151.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.55 EPS. On average, analysts forecast that Chevron Co. will post 13.53 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.06%. The ex-dividend date is Thursday, May 16th. Chevron’s payout ratio is currently 59.98%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CVX shares. Piper Sandler upped their price target on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Wells Fargo & Company lifted their target price on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday. Raymond James lifted their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. HSBC boosted their price target on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, TD Cowen boosted their target price on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average price target of $185.35.

Insider Buying and Selling

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by 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.