Motco Cuts Holdings in Chevron Co. (NYSE:CVX)

Motco lessened its position in shares of Chevron Co. (NYSE:CVXGet Rating) by 5.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 84,016 shares of the oil and gas company’s stock after selling 4,657 shares during the period. Chevron makes up 0.9% of Motco’s portfolio, making the stock its 22nd biggest position. Motco’s holdings in Chevron were worth $13,681,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Your Advocates Ltd. LLP purchased a new position in shares of Chevron in the 1st quarter valued at $25,000. Rational Advisors LLC raised its position in Chevron by 116.3% in the fourth quarter. Rational Advisors LLC now owns 225 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 121 shares during the period. Curi Wealth Management LLC purchased a new stake in shares of Chevron during the 4th quarter valued at about $30,000. Joseph P. Lucia & Associates LLC acquired a new position in shares of Chevron in the first quarter worth about $30,000. Finally, Landmark Wealth Management LLC purchased a new position in shares of Chevron during the 1st quarter valued at approximately $34,000. 65.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In other news, insider David A. Inchausti sold 5,600 shares of Chevron stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $164.85, for a total transaction of $923,160.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider David A. Inchausti sold 5,600 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $164.85, for a total transaction of $923,160.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark A. Nelson sold 117,400 shares of the company’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $159.47, for a total value of $18,721,778.00. Following the completion of the sale, the executive vice president now owns 788 shares in the company, valued at $125,662.36. The disclosure for this sale can be found here. Insiders have sold 399,043 shares of company stock valued at $67,010,843 in the last 90 days. 0.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of analyst reports. Cowen reduced their price objective on Chevron from $179.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, July 1st. HSBC raised Chevron from a “hold” rating to a “buy” rating and decreased their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 20th. Wells Fargo & Company boosted their target price on Chevron from $181.00 to $185.00 and gave the stock an “overweight” rating in a research report on Monday, August 1st. Credit Suisse Group boosted their target price on shares of Chevron from $190.00 to $202.00 and gave the company an “outperform” rating in a research note on Thursday, June 9th. Finally, Truist Financial cut their target price on shares of Chevron from $170.00 to $166.00 and set a “hold” rating for the company in a research report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average target price of $173.00.

Chevron Stock Up 1.7 %

Shares of CVX opened at $153.64 on Friday. Chevron Co. has a 52 week low of $92.86 and a 52 week high of $182.40. The firm has a market capitalization of $301.87 billion, a P/E ratio of 10.25, a P/E/G ratio of 0.61 and a beta of 1.15. The company has a 50-day simple moving average of $154.37 and a 200-day simple moving average of $155.35. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.22 and a current ratio of 1.43.

Chevron (NYSE:CVXGet Rating) last posted its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, beating the consensus estimate of $4.66 by $1.16. Chevron had a return on equity of 20.19% and a net margin of 13.45%. The firm had revenue of $68.76 billion during the quarter, compared to analysts’ expectations of $57.69 billion. During the same quarter in the prior year, the firm posted $1.71 EPS. The company’s revenue for the quarter was up 82.9% on a year-over-year basis. On average, equities research analysts expect that Chevron Co. will post 17.51 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Friday, August 19th will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a yield of 3.70%. Chevron’s dividend payout ratio is currently 37.89%.

Chevron Profile

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

See Also

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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