Carnegie Capital Asset Management LLC Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

Carnegie Capital Asset Management LLC boosted its position in shares of Chevron Co. (NYSE:CVXGet Rating) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,555 shares of the oil and gas company’s stock after buying an additional 1,168 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Chevron were worth $11,814,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Selway Asset Management boosted its holdings in shares of Chevron by 1.9% during the 1st quarter. Selway Asset Management now owns 21,035 shares of the oil and gas company’s stock worth $3,425,000 after purchasing an additional 400 shares during the last quarter. Okabena Investment Services Inc. acquired a new position in shares of Chevron during the 4th quarter worth approximately $41,000. Cantor Fitzgerald Investment Adviser L.P. boosted its holdings in shares of Chevron by 1.4% during the 4th quarter. Cantor Fitzgerald Investment Adviser L.P. now owns 85,974 shares of the oil and gas company’s stock worth $10,089,000 after purchasing an additional 1,176 shares during the last quarter. Greystone Financial Group LLC boosted its holdings in shares of Chevron by 9.6% during the 4th quarter. Greystone Financial Group LLC now owns 63,741 shares of the oil and gas company’s stock worth $7,480,000 after purchasing an additional 5,573 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in Chevron by 7.4% in the fourth quarter. Retirement Systems of Alabama now owns 1,479,134 shares of the oil and gas company’s stock valued at $173,576,000 after acquiring an additional 102,112 shares during the last quarter. Institutional investors and hedge funds own 65.89% of the company’s stock.

NYSE CVX opened at $147.87 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22. Chevron Co. has a 1 year low of $92.86 and a 1 year high of $182.40. The company has a market capitalization of $290.54 billion, a PE ratio of 13.90, a P/E/G ratio of 0.67 and a beta of 1.09. The company has a fifty day moving average of $167.41 and a two-hundred day moving average of $149.45.

Chevron (NYSE:CVXGet Rating) last released its quarterly earnings data on Friday, April 29th. The oil and gas company reported $3.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.44 by ($0.08). Chevron had a net margin of 11.10% and a return on equity of 14.66%. The company had revenue of $54.37 billion during the quarter, compared to analyst estimates of $54.96 billion. During the same quarter in the prior year, the company earned $0.90 EPS. The business’s revenue was up 69.8% on a year-over-year basis. On average, research analysts expect that Chevron Co. will post 17.5 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Thursday, May 19th were paid a $1.42 dividend. The ex-dividend date of this dividend was Wednesday, May 18th. This represents a $5.68 annualized dividend and a yield of 3.84%. Chevron’s dividend payout ratio is presently 53.38%.

A number of research analysts recently commented on CVX shares. The Goldman Sachs Group decreased their price objective on Chevron from $181.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday. Barclays upped their price target on Chevron from $183.00 to $196.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 31st. Royal Bank of Canada cut Chevron from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from $160.00 to $165.00 in a research note on Thursday, April 21st. Raymond James upped their price target on Chevron from $173.00 to $191.00 and gave the stock an “outperform” rating in a research note on Monday, April 18th. Finally, Truist Financial cut their price objective on Chevron from $186.00 to $181.00 in a research report on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $169.57.

In other news, Director Enrique Hernandez, Jr. sold 5,805 shares of the stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $160.00, for a total transaction of $928,800.00. Following the completion of the sale, the director now owns 22,978 shares in the company, valued at $3,676,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Eimear P. Bonner sold 68,032 shares of the stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $165.00, for a total transaction of $11,225,280.00. The disclosure for this sale can be found here. Insiders sold 561,726 shares of company stock valued at $94,057,396 in the last 90 days. 0.32% of the stock is currently owned by insiders.

Chevron Company Profile (Get Rating)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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