Sawgrass Asset Management LLC Sells 272 Shares of Chevron Co. (NYSE:CVX)

Sawgrass Asset Management LLC lowered its position in Chevron Co. (NYSE:CVX) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,873 shares of the oil and gas company’s stock after selling 272 shares during the period. Sawgrass Asset Management LLC’s holdings in Chevron were worth $1,174,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CVX. Windsor Advisory Group LLC lifted its position in Chevron by 24.0% during the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock worth $627,000 after buying an additional 720 shares in the last quarter. Renaissance Investment Group LLC grew its position in shares of Chevron by 12.7% during the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after buying an additional 697 shares during the period. Altrius Capital Management Inc lifted 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 buying an additional 434 shares during the period. Camelot Portfolios LLC acquired a new position in shares of Chevron in the 4th quarter valued at $254,000. Finally, Kapstone Financial Advisors LLC grew its stake in shares of 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 during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Piper Sandler lifted their price target on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Raymond James boosted their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. HSBC upped their target price on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Finally, Mizuho boosted their price target on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average target price of $185.35.

Chevron Price Performance

Shares of CVX traded down $0.13 during mid-day trading on Wednesday, reaching $162.54. The company had a trading volume of 6,704,983 shares, compared to its average volume of 8,445,787. The company’s 50 day simple moving average is $157.62 and its 200 day simple moving average is $151.45. The company has a market capitalization of $300.21 billion, a price-to-earnings ratio of 14.95, a P/E/G ratio of 2.37 and a beta of 1.11. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23.

Chevron (NYSE:CVX) 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 during the quarter, compared to the consensus estimate of $48.42 billion. During the same period last year, the company earned $3.55 earnings per share. The business’s quarterly revenue was down 4.1% on a year-over-year basis. Analysts expect that Chevron Co. will post 13.53 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was 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 approximately $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the sale, the director now owns 7,647 shares of the company’s stock, valued at $1,231,167. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,247 shares of company stock valued at $2,154,164. 0.20% of the stock is currently owned by company insiders.

About Chevron

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.