Chevron Co. (NYSE:CVX) Shares Sold by Chapman Investment Management LLC

Chapman Investment Management LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 49.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,397 shares of the oil and gas company’s stock after selling 5,266 shares during the quarter. Chevron makes up about 0.6% of Chapman Investment Management LLC’s investment portfolio, making the stock its 27th largest holding. Chapman Investment Management LLC’s holdings in Chevron were worth $805,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted 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 purchasing an additional 458,080 shares during the period. Morgan Stanley boosted its holdings in shares of Chevron by 7.0% during the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after acquiring an additional 2,244,995 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chevron by 1.5% during the third 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 acquiring an additional 368,898 shares during the period. Northern Trust Corp boosted its holdings in shares of Chevron by 2.6% during the third quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock valued at $3,828,537,000 after acquiring an additional 569,850 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings 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 acquiring an additional 62,254 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CVX. Royal Bank of Canada boosted their price target on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. UBS Group boosted their price target on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. Finally, Wells Fargo & Company lifted their price objective on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average target price of $184.75.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Chevron Trading Up 0.4 %

CVX stock traded up $0.61 during mid-day trading on Friday, reaching $165.89. 9,736,350 shares of the stock traded hands, compared to its average volume of 7,082,480. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The company has a market cap of $308.10 billion, a P/E ratio of 14.60, a P/E/G ratio of 2.43 and a beta of 1.12. The stock’s fifty day moving average is $156.58 and its 200-day moving average is $151.83.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same period in the prior year, the firm earned $3.55 earnings per share. The business’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, sell-side analysts expect that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio is presently 57.39%.

Chevron Company 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.