Bryn Mawr Capital Management LLC Lowers Holdings in Chevron Co. (NYSE:CVX)

Bryn Mawr Capital Management LLC cut its holdings in Chevron Co. (NYSE:CVX) by 10.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,188 shares of the oil and gas company’s stock after selling 9,631 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Chevron were worth $11,812,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Overbrook Management Corp raised its holdings in shares of Chevron by 24.8% during the 4th quarter. Overbrook Management Corp now owns 5,028 shares of the oil and gas company’s stock worth $750,000 after acquiring an additional 1,000 shares in the last quarter. AM Investment Strategies LLC raised its holdings in shares of Chevron by 6.6% during the 4th quarter. AM Investment Strategies LLC now owns 6,441 shares of the oil and gas company’s stock worth $961,000 after acquiring an additional 399 shares in the last quarter. Jackson Hole Capital Partners LLC raised its holdings in shares of Chevron by 9.8% during the 4th quarter. Jackson Hole Capital Partners LLC now owns 13,208 shares of the oil and gas company’s stock worth $1,970,000 after acquiring an additional 1,177 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its holdings in Chevron by 1.8% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 440,861 shares of the oil and gas company’s stock valued at $65,759,000 after buying an additional 7,824 shares during the period. Finally, Syon Capital LLC raised its holdings in Chevron by 18.8% during the 4th quarter. Syon Capital LLC now owns 21,474 shares of the oil and gas company’s stock valued at $3,203,000 after buying an additional 3,402 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

CVX opened at $165.83 on Friday. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The business’s fifty day simple moving average is $156.58 and its 200-day simple moving average is $151.83. The company has a market capitalization of $307.99 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 2.43 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business 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 company earned $3.55 EPS. The business’s revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given 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 is Thursday, May 16th. Chevron’s payout ratio is currently 57.39%.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CVX. Raymond James increased their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Truist Financial decreased their price target on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a report on Friday, April 5th. Barclays began coverage on Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target on the stock. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Finally, Royal Bank of Canada upped their price objective on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average price target of $184.75.

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.