Hendershot Investments Inc. Lowers Stock Position in Chevron Co. (NYSE:CVX)

Hendershot Investments Inc. reduced its stake in shares of Chevron Co. (NYSE:CVXGet Rating) by 3.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,659 shares of the oil and gas company’s stock after selling 725 shares during the period. Hendershot Investments Inc.’s holdings in Chevron were worth $2,875,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Your Advocates Ltd. LLP bought a new stake in Chevron during the 1st quarter valued at approximately $25,000. Rational Advisors LLC raised its stake in Chevron by 116.3% during the 4th quarter. Rational Advisors LLC now owns 225 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 121 shares during the period. Curi Wealth Management LLC bought a new stake in Chevron during the 4th quarter valued at approximately $30,000. Joseph P. Lucia & Associates LLC bought a new stake in Chevron during the 1st quarter valued at approximately $30,000. Finally, Landmark Wealth Management LLC bought a new stake in Chevron during the 1st quarter valued at approximately $34,000. Institutional investors own 65.89% of the company’s stock.

Insider Activity at Chevron

In related news, VP Rhonda J. Morris sold 59,700 shares of the business’s stock in a transaction on Friday, May 13th. The stock was sold at an average price of $167.19, for a total transaction of $9,981,243.00. Following the completion of the transaction, the vice president now owns 830 shares in the company, valued at approximately $138,767.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Chevron news, VP Rhonda J. Morris sold 59,700 shares of the company’s stock in a transaction on Friday, May 13th. The stock was sold at an average price of $167.19, for a total value of $9,981,243.00. Following the completion of the sale, the vice president now directly owns 830 shares in the company, valued at approximately $138,767.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Wanda M. Austin sold 11,432 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $161.45, for a total value of $1,845,696.40. Following the completion of the sale, the director now owns 3,560 shares of the company’s stock, valued at $574,762. The disclosure for this sale can be found here. Insiders sold a total of 399,043 shares of company stock worth $67,010,843 in the last quarter. 0.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVX. Credit Suisse Group lifted their target price on Chevron from $190.00 to $202.00 and gave the company an “outperform” rating in a research note on Thursday, June 9th. Cowen reduced their price objective on Chevron from $179.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, July 1st. Morgan Stanley lifted their price objective on Chevron from $185.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 19th. Societe Generale raised Chevron from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $172.00 price objective on shares of Chevron in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $173.00.

Chevron Price Performance

CVX opened at $153.64 on Friday. The business has a fifty day moving average of $154.37 and a 200 day moving average of $155.35. Chevron Co. has a 52-week low of $92.86 and a 52-week high of $182.40. The company has a quick ratio of 1.22, a current ratio of 1.43 and a debt-to-equity ratio of 0.20. The stock has a market cap of $301.87 billion, a P/E ratio of 10.25, a PEG ratio of 0.61 and a beta of 1.15.

Chevron (NYSE:CVXGet Rating) last posted its quarterly earnings data on Friday, July 29th. The oil and gas company reported $5.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $1.16. Chevron had a return on equity of 20.19% and a net margin of 13.45%. The company had revenue of $68.76 billion during the quarter, compared to analysts’ expectations of $57.69 billion. During the same quarter in the previous year, the business earned $1.71 EPS. Chevron’s revenue was up 82.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Co. will post 17.51 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Friday, August 19th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend is Thursday, August 18th. Chevron’s payout ratio is currently 37.89%.

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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