Hoylecohen LLC Boosts Stock Position in Chevron Co. (NYSE:CVX)

Hoylecohen LLC grew its stake in shares of Chevron Co. (NYSE:CVXFree Report) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 119,534 shares of the oil and gas company’s stock after acquiring an additional 1,610 shares during the period. Chevron accounts for approximately 1.5% of Hoylecohen LLC’s portfolio, making the stock its 16th largest holding. Hoylecohen LLC’s holdings in Chevron were worth $17,830,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of 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 buying an additional 458,080 shares in the last quarter. Morgan Stanley increased its holdings in shares of Chevron by 7.0% in the third 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 period. Charles Schwab Investment Management Inc. increased its holdings in shares of Chevron by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock worth $3,886,821,000 after buying an additional 1,999,332 shares during the period. Northern Trust Corp increased 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 worth $3,828,537,000 after buying an additional 569,850 shares during the period. Finally, Norges Bank purchased a new position in Chevron during the 4th quarter valued at about $2,902,007,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity

In other news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the sale, the director now owns 7,647 shares in the company, valued at approximately $1,231,167. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares of the company’s stock, valued at approximately $76,429.71. The disclosure for this sale can be found here. Insiders have sold 19,546 shares of company stock valued at $3,176,223 in the last ninety days. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Up 0.5 %

Shares of CVX traded up $0.77 during mid-day trading on Friday, reaching $157.71. The company had a trading volume of 4,476,839 shares, compared to its average volume of 8,141,585. The company has a market capitalization of $290.65 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 2.32 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 company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The firm has a 50-day moving average price of $160.17 and a 200 day moving average price of $152.41.

Chevron (NYSE:CVXGet Free Report) last released its quarterly earnings data 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. The business had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.55 EPS. On average, sell-side analysts forecast that Chevron Co. will post 13.57 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.13%. Chevron’s payout ratio is 59.98%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Truist Financial boosted their price target on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a report on Friday, May 10th. Wells Fargo & Company boosted their price target on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $170.00 to $195.00 in a report on Thursday, April 11th. UBS Group upped their target price on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Finally, Royal Bank of Canada upped their target price on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $186.10.

Read Our Latest Stock Analysis on CVX

Chevron Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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