Tsfg LLC Cuts Holdings in Chevron Co. (NYSE:CVX)

Tsfg LLC reduced its position in Chevron Co. (NYSE:CVX) by 15.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,914 shares of the oil and gas company’s stock after selling 545 shares during the period. Tsfg LLC’s holdings in Chevron were worth $460,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CVX. Caxton Associates LP purchased a new position in Chevron during the third quarter worth $207,000. United Services Automobile Association boosted its holdings in shares of Chevron by 13.9% during the third quarter. United Services Automobile Association now owns 48,859 shares of the oil and gas company’s stock worth $8,239,000 after purchasing an additional 5,968 shares during the last quarter. Hodges Capital Management Inc. boosted its holdings in shares of Chevron by 6.0% during the third quarter. Hodges Capital Management Inc. now owns 7,855 shares of the oil and gas company’s stock worth $1,325,000 after purchasing an additional 445 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Chevron by 7.6% during the third quarter. Lazard Asset Management LLC now owns 5,182,317 shares of the oil and gas company’s stock worth $873,841,000 after purchasing an additional 364,969 shares during the last quarter. Finally, Kidder Stephen W boosted its holdings in shares of Chevron by 10.9% during the third quarter. Kidder Stephen W now owns 30,892 shares of the oil and gas company’s stock worth $5,209,000 after purchasing an additional 3,046 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chevron

In other Chevron news, 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 transaction, the director now directly owns 7,647 shares in the company, valued at $1,231,167. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s 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 sale, the director now directly owns 7,647 shares in the company, valued at approximately $1,231,167. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s 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 completion of the sale, the director now owns 2,549 shares in the company, valued at $416,761.50. The disclosure for this sale can be found here. Insiders sold a total of 19,546 shares of company stock valued at $3,176,223 over the last three months. 0.20% of the stock is owned by insiders.

Chevron Stock Up 0.1 %

Shares of NYSE CVX opened at $156.42 on Friday. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The firm has a market cap of $288.28 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 2.38 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The stock’s 50-day simple moving average is $159.22 and its 200-day simple moving average is $154.62.

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

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Raymond James raised their price objective on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Piper Sandler lifted their target price on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. TD Cowen lifted their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. Mizuho lifted their target price on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, HSBC lifted their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report 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 currently has an average rating of “Moderate Buy” and a consensus target price of $186.95.

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.