Key Client Fiduciary Advisors LLC Sells 485 Shares of Chevron Co. (NYSE:CVX)

Key Client Fiduciary Advisors LLC lowered its position in Chevron Co. (NYSE:CVX) by 13.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,154 shares of the oil and gas company’s stock after selling 485 shares during the period. Key Client Fiduciary Advisors LLC’s holdings in Chevron were worth $498,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Chevron by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock valued at $27,303,688,000 after acquiring an additional 458,080 shares in the last quarter. Berkshire Hathaway Inc grew its holdings in shares of Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after acquiring an additional 15,845,037 shares in the last quarter. Morgan Stanley grew its holdings in shares of Chevron by 7.0% in the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after acquiring an additional 2,244,995 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Chevron by 8.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock valued at $3,886,821,000 after acquiring an additional 1,999,332 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Chevron in the 4th quarter valued at about $2,902,007,000. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CVX shares. Piper Sandler raised their price objective on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Raymond James raised their target price on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Wells Fargo & Company raised their target price on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Truist Financial raised their target price on shares of Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Finally, HSBC raised their target price on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $186.95.

Chevron Trading Down 1.6 %

Shares of CVX stock opened at $156.00 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The firm has a 50 day moving average price of $159.33 and a two-hundred day moving average price of $154.51. The company has a market capitalization of $287.50 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 2.41 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same period in the previous year, the business earned $3.55 earnings per share. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, analysts predict that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a $1.63 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.18%. Chevron’s payout ratio is 59.98%.

Insider Activity

In other news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the transaction, the director now directly owns 2,549 shares of the company’s stock, valued at $416,761.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the transaction, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,546 shares of company stock worth $3,176,223. Corporate insiders own 0.20% of the company’s stock.

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.