Gratus Capital LLC Decreases Stake in Chevron Co. (NYSE:CVX)

Gratus Capital LLC lowered its holdings in Chevron Co. (NYSE:CVXGet Rating) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,651 shares of the oil and gas company’s stock after selling 673 shares during the quarter. Gratus Capital LLC’s holdings in Chevron were worth $1,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CVX. Worth Asset Management LLC bought a new stake in shares of Chevron in the first quarter worth $36,000. Win Advisors Inc. grew its holdings in shares of Chevron by 61.2% in the second quarter. Win Advisors Inc. now owns 316 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 120 shares during the period. Joseph P. Lucia & Associates LLC grew its holdings in shares of Chevron by 80.6% in the second quarter. Joseph P. Lucia & Associates LLC now owns 336 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 150 shares during the period. Foster Dykema Cabot & Co. Inc. MA bought a new stake in shares of Chevron in the second quarter worth $69,000. Finally, Goodman Advisory Group LLC bought a new stake in shares of Chevron in the second quarter worth $72,000. Hedge funds and other institutional investors own 69.37% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Mizuho lowered Chevron from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $185.00 to $200.00 in a report on Tuesday, January 10th. Piper Sandler cut their price target on Chevron from $206.00 to $199.00 and set an “overweight” rating for the company in a report on Monday, December 19th. Barclays boosted their price target on Chevron from $196.00 to $212.00 and gave the company an “overweight” rating in a report on Tuesday, January 3rd. Citigroup boosted their price target on Chevron from $155.00 to $180.00 in a report on Tuesday, November 22nd. Finally, Jefferies Financial Group assumed coverage on Chevron in a report on Wednesday, October 19th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $186.67.

Insider Buying and Selling at Chevron

In other news, Director Alice P. Gast sold 2,706 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $179.44, for a total transaction of $485,564.64. Following the transaction, the director now owns 21,964 shares of the company’s stock, valued at $3,941,220.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP James William Johnson sold 143,466 shares of the company’s stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $179.30, for a total transaction of $25,723,453.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alice P. Gast sold 2,706 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 21,964 shares in the company, valued at approximately $3,941,220.16. The disclosure for this sale can be found here. Insiders have sold a total of 293,563 shares of company stock worth $53,186,421 over the last ninety days. Company insiders own 0.32% of the company’s stock.

Chevron Trading Down 0.1 %

Shares of CVX stock opened at $180.66 on Tuesday. Chevron Co. has a 1 year low of $122.84 and a 1 year high of $189.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.40 and a quick ratio of 1.15. The stock’s 50 day simple moving average is $177.53 and its two-hundred day simple moving average is $165.74. The company has a market cap of $349.33 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 0.81 and a beta of 1.18.

Chevron (NYSE:CVXGet Rating) last issued 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. Chevron had a return on equity of 22.36% and a net margin of 14.36%. The business had revenue of $66.64 billion for the quarter, compared to the consensus estimate of $61.44 billion. During the same period in the prior year, the business posted $2.96 earnings per share. The company’s quarterly revenue was up 49.1% compared to the same quarter last year. Research analysts predict that Chevron Co. will post 18.91 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 12th. Shareholders of record on Friday, November 18th were given a dividend of $1.42 per share. The ex-dividend date was Thursday, November 17th. This represents a $5.68 dividend on an annualized basis and a yield of 3.14%. Chevron’s dividend payout ratio (DPR) is presently 32.31%.

Chevron Company Profile

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Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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