Clearview Wealth Advisors LLC Cuts Stake in Chevron Co. (NYSE:CVX)

Clearview Wealth Advisors LLC decreased its position in Chevron Co. (NYSE:CVXFree Report) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,342 shares of the oil and gas company’s stock after selling 224 shares during the period. Chevron comprises 1.8% of Clearview Wealth Advisors LLC’s portfolio, making the stock its 12th largest holding. Clearview Wealth Advisors LLC’s holdings in Chevron were worth $1,789,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Renaissance Investment Group LLC boosted its stake in shares of Chevron by 12.7% in the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after buying an additional 697 shares in the last quarter. Camelot Portfolios LLC purchased a new stake in Chevron during the fourth quarter worth $254,000. Kapstone Financial Advisors LLC boosted its position in Chevron by 5.3% during the fourth quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock worth $626,000 after purchasing an additional 211 shares in the last quarter. Guyasuta Investment Advisors Inc. boosted its position in Chevron by 1.7% during the fourth quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock worth $32,307,000 after purchasing an additional 3,603 shares in the last quarter. Finally, Seven Mile Advisory boosted its position in Chevron by 9.8% during the fourth quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock worth $413,000 after purchasing an additional 247 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVX has been the subject of several analyst reports. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. HSBC upped their price target on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Piper Sandler upped their price target on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Finally, Mizuho upped their price target on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average target price of $186.95.

Read Our Latest Analysis on Chevron

Chevron Stock Performance

CVX traded up $3.31 during trading hours on Thursday, hitting $156.64. The company’s stock had a trading volume of 8,025,647 shares, compared to its average volume of 7,976,384. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $288.68 billion, a PE ratio of 14.31, a PEG ratio of 2.28 and a beta of 1.12. The company has a 50-day simple moving average of $159.43 and a 200 day simple moving average of $154.04.

Chevron (NYSE:CVXGet Free Report) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period last year, the firm earned $3.55 EPS. The firm’s revenue was down 4.1% compared to the same quarter last year. As a group, sell-side analysts expect that Chevron Co. will post 13.45 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the sale, the director now directly owns 2,549 shares of the company’s stock, valued at $416,761.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,546 shares of company stock worth $3,176,223. 0.20% of the stock is owned by company insiders.

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.

Further Reading

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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