Garrett Investment Advisors LLC cut its stake in Chevron Co. (NYSE: CVX – Get Rating) by 17.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 7,017 shares of the oil and gas company stock after selling 1,468 shares during the quarter. Garrett Investment Advisors LLC’s holdings in Chevron were worth $ 1,143,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of CVX. Roble Belko & Company Inc increased its holdings in Chevron by 26.6% in the 4th quarter. Roble Belko & Company Inc now owns 352 shares of the oil and gas company stock valued at $ 41,000 after purchasing an additional 74 shares during the last quarter. Altavista Wealth Management Inc. increased its holdings in Chevron by 0.8% in the 4th quarter. Altavista Wealth Management Inc. now owns 9,265 shares of the oil and gas company stock valued at $ 1,087,000 after purchasing an additional 75 shares during the last quarter. Aberdeen Wealth Management LLC increased its holdings in Chevron by 1.2% in the 4th quarter. Aberdeen Wealth Management LLC now owns 6,479 shares of the oil and gas company stock valued at $ 760,000 after purchasing an additional 75 shares during the last quarter. Tempus Wealth Planning LLC increased its holdings in Chevron by 1.8% in the 4th quarter. Tempus Wealth Planning LLC now owns 4,281 shares of the oil and gas company stock valued at $ 502,000 after purchasing an additional 76 shares during the last quarter. Finally, Vivaldi Capital Management LP increased its holdings in Chevron by 3.4% in the 4th quarter. Vivaldi Capital Management LP now owns 2,426 shares of the oil and gas company stock valued at $ 285,000 after purchasing an additional 80 shares during the last quarter. 65.89% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Eimear P. Bonner sold 68,032 shares of the company stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $ 165.00, for a total value of $ 11,225,280.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David A. Inchausti sold 4,700 shares of the company stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $ 161.09, for a total transaction of $ 757,123.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 561,726 shares of company stock valued at $ 94,057,396. 0.32% of the stock is owned by corporate insiders.
Shares of CVX opened at $ 148.38 on Friday. Chevron Co. has a 1-year low of $ 92.86 and a 1-year high of $ 182.40. The stock has a market cap of $ 291.54 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 0.65 and a beta of 1.09. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22. The firm has a fifty day moving average price of $ 168.52 and a 200 day moving average price of $ 148.95.
Chevron (NYSE: CVX – Get Rating) last announced its quarterly earnings results on Friday, April 29th. The oil and gas company reported $ 3.36 earnings per share for the quarter, missing analysts’ consensus estimates of $ 3.44 by ($ 0.08). Chevron had a net margin of 11.10% and a return on equity of 14.66%. The company had revenue of $ 54.37 billion during the quarter, compared to analysts’ expectations of $ 54.96 billion. During the same period last year, the firm earned $ 0.90 earnings per share. Chevron’s revenue was up 69.8% on a year-over-year basis. As a group, equities analysts expect that Chevron Co. will post 17.5 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Thursday, May 19th were given a $ 1.42 dividend. The ex-dividend date of this dividend was Wednesday, May 18th. This represents a $ 5.68 dividend on an annualized basis and a yield of 3.83%. Chevron’s dividend payout ratio (DPR) is presently 53.38%.
CVX has been the subject of several research reports. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $ 167.00 target price for the company in a report on Wednesday, March 2nd. Societe Generale downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $ 175.00 price target for the company. in a research note on Friday, May 20th. Morgan Stanley dropped their price target on shares of Chevron from $ 188.00 to $ 185.00 and set an “equal weight” rating for the company in a research note on Monday, June 6th. UBS Group boosted their price target on shares of Chevron from $ 150.00 to $ 192.00 and gave the stock a “buy” rating in a research note on Tuesday, April 5th. Finally, Truist Financial dropped their price target on shares of Chevron from $ 186.00 to $ 181.00 in a research note on Monday, May 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $ 170.48.
About Chevron: (Get Rating)
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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