Choreo LLC Grows Stock Position in Chevron Co. (NYSE:CVX)

Choreo LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 14.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,101 shares of the oil and gas company’s stock after purchasing an additional 8,159 shares during the period. Choreo LLC’s holdings in Chevron were worth $9,711,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CVX. Windsor Advisory Group LLC boosted its position in Chevron by 24.0% during the third quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock worth $627,000 after acquiring an additional 720 shares during the last quarter. Renaissance Investment Group LLC grew its holdings in Chevron by 12.7% in the 4th 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 during the period. Altrius Capital Management Inc grew its holdings in Chevron by 2.1% in the third quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after purchasing an additional 434 shares during the period. Camelot Portfolios LLC purchased a new stake in shares of Chevron during the 4th quarter valued at $254,000. Finally, Strategic Financial Concepts LLC raised its position in shares of Chevron by 9.0% in the 3rd quarter. Strategic Financial Concepts LLC now owns 5,775 shares of the oil and gas company’s stock worth $974,000 after buying an additional 476 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of CVX traded up $1.06 during midday trading on Monday, hitting $166.95. 2,858,554 shares of the stock traded hands, compared to its average volume of 8,409,968. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The business’s 50 day moving average price is $156.58 and its two-hundred day moving average price is $151.66. The firm has a market capitalization of $310.07 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 2.44 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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. The business had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.55 EPS. Equities research analysts predict that Chevron Co. will post 13.58 EPS 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 issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 3.91%. The ex-dividend date is Thursday, May 16th. Chevron’s payout ratio is currently 59.98%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Barclays initiated coverage on Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target for the company. Piper Sandler lifted their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. TD Cowen upped 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. Finally, Raymond James boosted their price target on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $185.25.

Insider Activity at Chevron

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. 0.20% of the stock is currently owned by 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.