Grandfield & Dodd LLC Boosts Position in Chevron Corporation $CVX

Grandfield & Dodd LLC lifted its stake in shares of Chevron Corporation (NYSE:CVX) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 117,510 shares of the oil and gas company’s stock after acquiring an additional 1,433 shares during the quarter. Grandfield & Dodd LLC’s holdings in Chevron were worth $16,826,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CVX. Edgestream Partners L.P. lifted its stake in Chevron by 58.9% in the first quarter. Edgestream Partners L.P. now owns 19,412 shares of the oil and gas company’s stock worth $3,247,000 after acquiring an additional 7,198 shares during the period. Verdence Capital Advisors LLC boosted its stake in Chevron by 10.2% in the first quarter. Verdence Capital Advisors LLC now owns 33,431 shares of the oil and gas company’s stock valued at $5,593,000 after acquiring an additional 3,095 shares in the last quarter. Graypoint LLC lifted its holdings in shares of Chevron by 5.6% during the 1st quarter. Graypoint LLC now owns 27,109 shares of the oil and gas company’s stock valued at $4,535,000 after purchasing an additional 1,435 shares during the last quarter. Concord Wealth Partners grew its stake in Chevron by 6.1% during the 1st quarter. Concord Wealth Partners now owns 8,268 shares of the oil and gas company’s stock worth $1,383,000 after buying an additional 478 shares during the last quarter. Finally, Woodward Diversified Capital LLC boosted its holdings in Chevron by 0.5% in the first quarter. Woodward Diversified Capital LLC now owns 30,957 shares of the oil and gas company’s stock worth $5,179,000 after acquiring an additional 160 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the sale, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $155.42 on Friday. The firm has a market capitalization of $312.95 billion, a P/E ratio of 20.00, a PEG ratio of 4.40 and a beta of 0.83. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a 50-day simple moving average of $155.19 and a two-hundred day simple moving average of $150.10. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00.

Chevron (NYSE:CVX) last posted its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. During the same period last year, the firm earned $2.48 EPS. The company’s quarterly revenue was down 1.9% on a year-over-year basis. On average, equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date is Tuesday, November 18th. Chevron’s payout ratio is presently 96.20%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CVX. Barclays dropped their target price on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a report on Friday, July 18th. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Raymond James Financial reaffirmed an “outperform” rating and set a $160.00 price target (down previously from $170.00) on shares of Chevron in a research report on Friday, October 17th. Finally, TD Cowen increased their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Chevron currently has an average rating of “Hold” and an average target price of $166.25.

Chevron Profile

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.