AMI Asset Management Corp Buys 173 Shares of Chevron Co. (NYSE:CVX)

AMI Asset Management Corp lifted its stake in Chevron Co. (NYSE:CVX) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,829 shares of the oil and gas company’s stock after purchasing an additional 173 shares during the quarter. AMI Asset Management Corp’s holdings in Chevron were worth $1,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Chevron by 0.3% in the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after buying an additional 458,080 shares in the last quarter. Berkshire Hathaway Inc raised its holdings in 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 worth $18,808,081,000 after acquiring an additional 15,845,037 shares during the last quarter. Morgan Stanley lifted its position in 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. boosted its stake in Chevron by 8.2% during 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 purchasing an additional 1,999,332 shares during the last quarter. Finally, Norges Bank purchased a new stake in Chevron during the 4th quarter valued at $2,902,007,000. Institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the 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 sale, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,746 shares of company stock worth $2,727,971. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Piper Sandler boosted their price target on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Mizuho boosted their target price on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Barclays initiated coverage on shares of Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a report on Monday, April 1st. Finally, HSBC increased their price objective on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus price target of $186.95.

Chevron Stock Down 0.0 %

NYSE CVX opened at $156.71 on Friday. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $288.81 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10. The stock’s 50-day moving average price is $158.68 and its 200-day moving average price is $154.90.

Chevron (NYSE:CVX) last released its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.55 EPS. On average, equities research analysts predict that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced 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 4.16%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Chevron 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.