Nemes Rush Group LLC Cuts Stock Holdings in Chevron Co. (NYSE:CVX)

Nemes Rush Group LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 11.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,130 shares of the oil and gas company’s stock after selling 1,040 shares during the period. Nemes Rush Group LLC’s holdings in Chevron were worth $1,213,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVX. Picton Mahoney Asset Management bought a new position in shares of Chevron in the 3rd quarter worth $26,000. Bare Financial Services Inc purchased a new stake in shares of Chevron during the fourth quarter valued at about $27,000. Valley Forge Investment Consultants Inc. ADV boosted its holdings in shares of Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 80 shares in the last quarter. Valued Wealth Advisors LLC bought a new stake in shares of Chevron in the 4th quarter valued at about $33,000. Finally, Roble Belko & Company Inc raised its stake in shares of Chevron by 77.3% during the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 150 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CVX. Piper Sandler lifted their price target on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research note on Tuesday, February 6th. Mizuho increased their price target on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. TD Cowen increased their price objective on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Finally, Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $186.10.

Chevron Stock Performance

Shares of CVX traded down $1.17 during mid-day trading on Tuesday, reaching $159.97. The company had a trading volume of 4,677,793 shares, compared to its average volume of 8,195,856. The stock has a market capitalization of $295.47 billion, a P/E ratio of 14.81, a PEG ratio of 2.40 and a beta of 1.11. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The stock has a 50 day moving average of $159.91 and a two-hundred day moving average of $152.25. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter last year, the company earned $3.55 EPS. The business’s revenue was down 4.1% on a year-over-year basis. On average, analysts expect that Chevron Co. will post 13.57 earnings per share for the current year.

Chevron Dividend Announcement

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 issued a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.08%. Chevron’s payout ratio is 59.98%.

Insider Transactions at Chevron

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $165.24, for a total value of $421,196.76. Following the completion of the transaction, the director now owns 27,725 shares in the company, valued at approximately $4,581,279. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $165.24, for a total transaction of $421,196.76. Following the transaction, the director now owns 27,725 shares of the company’s stock, valued at $4,581,279. The disclosure for this sale can be found here. Insiders have sold a total of 15,796 shares of company stock valued at $2,575,361 in the last ninety days. 0.20% of the stock is currently owned by corporate insiders.

Chevron 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.