Chevron Co. (NYSE:CVX) Shares Sold by Owen LaRue LLC

Owen LaRue LLC decreased its holdings in Chevron Co. (NYSE:CVX) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,673 shares of the oil and gas company’s stock after selling 511 shares during the period. Chevron comprises approximately 2.5% of Owen LaRue LLC’s portfolio, making the stock its 12th largest position. Owen LaRue LLC’s holdings in Chevron were worth $2,636,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake 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 valued at $27,303,688,000 after acquiring an additional 458,080 shares in the last quarter. Morgan Stanley grew its stake in Chevron by 7.0% during the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after buying an additional 2,244,995 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Chevron by 1.5% in 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 buying an additional 368,898 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Chevron by 2.6% in 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. grew its position 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 worth $2,499,684,000 after acquiring an additional 62,254 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CVX shares. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. TD Cowen boosted their price target on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday. HSBC increased their price objective on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday. Royal Bank of Canada upped their price target on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, Barclays assumed coverage on Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target for the company. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $185.35.

Chevron Price Performance

NYSE CVX traded down $1.78 during mid-day trading on Wednesday, hitting $159.49. The stock had a trading volume of 1,796,101 shares, compared to its average volume of 8,372,766. The company has a 50 day simple moving average of $156.96 and a 200 day simple moving average of $151.68. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The company has a market cap of $296.22 billion, a price-to-earnings ratio of 14.69, a P/E/G ratio of 2.43 and a beta of 1.12. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The company had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the prior year, the firm earned $3.55 earnings per share. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities analysts forecast that Chevron Co. will post 13.71 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.09%. Chevron’s payout ratio is 59.98%.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were 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 of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by insiders.

About Chevron

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.