Chevron Co. (NYSE:CVX) is Stonegate Investment Group LLC’s 5th Largest Position

Stonegate Investment Group LLC raised its holdings in Chevron Co. (NYSE:CVX) by 1.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 764,664 shares of the oil and gas company’s stock after purchasing an additional 8,301 shares during the period. Chevron accounts for about 3.8% of Stonegate Investment Group LLC’s holdings, making the stock its 5th biggest position. Stonegate Investment Group LLC’s holdings in Chevron were worth $120,618,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Crescent Sterling Ltd. grew its stake in Chevron by 1.8% during the first quarter. Crescent Sterling Ltd. now owns 28,156 shares of the oil and gas company’s stock valued at $4,441,000 after acquiring an additional 503 shares in the last quarter. Sutton Place Investors LLC grew its stake in Chevron by 29.9% during the first quarter. Sutton Place Investors LLC now owns 16,504 shares of the oil and gas company’s stock valued at $2,603,000 after acquiring an additional 3,799 shares in the last quarter. Bristlecone Advisors LLC grew its stake in Chevron by 0.8% during the first quarter. Bristlecone Advisors LLC now owns 16,951 shares of the oil and gas company’s stock valued at $2,674,000 after acquiring an additional 130 shares in the last quarter. Nicholas Hoffman & Company LLC. grew its stake in Chevron by 0.9% during the first quarter. Nicholas Hoffman & Company LLC. now owns 17,247 shares of the oil and gas company’s stock valued at $2,720,000 after acquiring an additional 147 shares in the last quarter. Finally, Strategic Financial Concepts LLC grew its stake in Chevron by 27.6% during the first quarter. Strategic Financial Concepts LLC now owns 5,831 shares of the oil and gas company’s stock valued at $920,000 after acquiring an additional 1,260 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 3.0 %

Shares of NYSE CVX traded down $5.06 during mid-day trading on Tuesday, hitting $161.27. The stock had a trading volume of 8,382,708 shares, compared to its average volume of 8,454,227. 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 has a 50 day moving average price of $156.96 and a two-hundred day moving average price of $151.68. The firm has a market cap of $299.52 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 2.44 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The company had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same period in the previous year, the firm earned $3.55 earnings per share. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities analysts anticipate that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Analysts Set New Price Targets

CVX has been the subject of several recent analyst reports. Piper Sandler boosted 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. Royal Bank of Canada boosted their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Raymond James lifted their target price on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Finally, Wells Fargo & Company lifted their target price on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $185.35.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by insiders.

Chevron Company 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.