American Research & Management Co. Trims Stock Position in Chevron Co. (NYSE:CVX)

American Research & Management Co. trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 0.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,058 shares of the oil and gas company’s stock after selling 613 shares during the period. Chevron comprises 1.6% of American Research & Management Co.’s holdings, making the stock its 23rd largest position. American Research & Management Co.’s holdings in Chevron were worth $6,713,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CVX. Proquility Private Wealth Partners LLC acquired a new position in shares of Chevron in the 4th quarter valued at $524,000. Onyx Bridge Wealth Group LLC purchased a new stake in Chevron in the 4th quarter worth $793,000. Lord Abbett & CO. LLC raised its position in Chevron by 1.8% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,833,303 shares of the oil and gas company’s stock worth $154,822,000 after acquiring an additional 32,797 shares during the period. Trexquant Investment LP acquired a new stake in shares of Chevron in the fourth quarter valued at about $5,164,000. Finally, Lumature Wealth Partners LLC acquired a new position in shares of Chevron during the 4th quarter worth about $292,000. Institutional investors own 62.27% of the company’s stock.

CVX traded down $1.29 on Thursday, reaching $102.90. The company had a trading volume of 204,097 shares, compared to its average volume of 11,355,726. The stock has a 50-day moving average price of $104.34 and a 200-day moving average price of $88.55. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.26. Chevron Co. has a 1 year low of $65.16 and a 1 year high of $112.70. The stock has a market capitalization of $198.22 billion, a PE ratio of -16.97, a P/E/G ratio of 5.74 and a beta of 1.33.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Thursday, January 28th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.09). The business had revenue of $25.25 billion for the quarter, compared to analysts’ expectations of $25.97 billion. Chevron had a positive return on equity of 1.75% and a negative net margin of 10.86%. The company’s revenue for the quarter was down 30.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.49 earnings per share. As a group, analysts expect that Chevron Co. will post 0.03 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 10th. Investors of record on Wednesday, February 17th were issued a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date was Tuesday, February 16th. Chevron’s dividend payout ratio is currently 82.30%.

A number of equities analysts recently weighed in on CVX shares. Jefferies Financial Group lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $98.00 price target on the stock. in a research report on Thursday, January 21st. Morgan Stanley raised their target price on Chevron from $113.00 to $127.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 17th. Smith Barney Citigroup upped their price target on Chevron from $69.00 to $90.00 in a research note on Wednesday, December 9th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on Chevron from $69.00 to $90.00 in a report on Wednesday, December 9th. Finally, Piper Sandler boosted their price objective on shares of Chevron from $113.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, April 1st. Eleven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $110.75.

In other Chevron news, CEO Michael K. Wirth sold 132,000 shares of the company’s stock in a transaction on Tuesday, January 19th. The shares were sold at an average price of $94.73, for a total transaction of $12,504,360.00. Following the completion of the transaction, the chief executive officer now owns 132,000 shares in the company, valued at approximately $12,504,360. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Rhonda J. Morris sold 14,700 shares of Chevron stock in a transaction dated Thursday, January 14th. The shares were sold at an average price of $94.81, for a total transaction of $1,393,707.00. Following the completion of the sale, the vice president now directly owns 8,014 shares in the company, valued at approximately $759,807.34. The disclosure for this sale can be found here. Insiders sold a total of 159,700 shares of company stock worth $15,133,067 in the last 90 days. 0.28% of the stock is currently owned by insiders.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production 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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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